Insider Economy Cyprus records a negative trade balance of €-1.4 billion in the first...

Cyprus records a negative trade balance of €-1.4 billion in the first 4 months of 2019

The total value of the exports of Cyprus reached the  €1.2 billion, a drop of -28% compared to the same period of last year (€0.7billion in the EU, or 96% increase and €0.4 billion with the rest of the world, or -64% drop), according to Eurostat, the statistical service of the EU.

The total value of imports was €2.6 billion, or -12% drop compared to the same period of last year (€1.7 billion from the EU -1% drop and €0.9 billion from the rest of the world or -28% drop). As a result Cyprus records a negative trade balance of €-1.4 billion exactly as last year (€-1.0 billion with the EU instead of  €-1.3 and €-0.5 with the rest of the world instead of 0.0)

The total value of exports of Greece reached €10.9 billion, a 4% increase compared to last year, €6.0 billion to the EU or 7% increase and €5.0 billion of the rest of the world or 2% increase. At the same time, imports  reached €18.6 billion, a 6% increase (€9.6 from the EU or 7% increase and €8.9 billion from the rest of the world or 5% increase). As a result Greece recorded a €-7.6 billion trade deficit, compared to € -7.1 billion last year (€-3.6  billion with the EU, instead of €-3.4 and € -4.0 billion with the rest of the world instead of €-3.7).

Meanwhile, the first estimate for euro area (EA19) exports of goods to the rest of the world in April 2019 was €192.9 billion, an increase of 5.2% compared with April 2018 (€183.4 bn). Imports from the rest of the world stood at €177.2 bn, a rise of 6.6% compared with April 2018 (€166.3 bn). As a result, the euro area recorded a €15.7 bn surplus in trade in goods with the rest of the world in April 2019, compared with + €17.1 bn in April 2018. Intra-euro area trade rose to €163.7 bn in April 2019, up by 3% compared with April 2018.

In January to April 2019, euro area exports of goods to the rest of the world rose to €768.9 bn (an increase of 4.3% compared with January-April 2018), and imports rose to €709.2 bn (an increase of 5.2% compared with January-April 2018). As a result, the euro area recorded a surplus of €59.6 bn, compared with +€63.6 bn in January-April 2018. Intra-euro area trade rose to €665.8 bn in January-April 2019, up by 2.8% compared with January-April 2018.

The first estimate for extra-EU28 exports of goods in April 2019 was €171.1 billion, up by 10.2% compared with April 2018 (€155.3 bn). Imports from the rest of the world stood at €169.7 bn, up by 8.6% compared with April 2018 (€156.3 bn). As a result, the EU28 recorded a €1.4 bn surplus in trade in goods with the rest of the world in April 2019, compared with a deficit of €0.9 bn in April 2018. Intra-EU28 trade rose to €291.2 bn in April 2019, +1.5% compared with April 2018.

In January to April 2019, extra-EU28 exports of goods rose to €654.9 bn (an increase of 4.9% compared with January-April 2018), and imports rose to €676.7 bn (an increase of 6.6% compared with January-April 2018). As a result, the EU28 recorded a deficit of €21.7 bn, compared with -€10.3 bn in January-April 2018. Intra-EU28 trade rose to €1 208.8 bn in January-April 2019, +3.6% compared with January-April 2018.

(Cyprus News Agency)

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