Insider Economy Cyprus sees sharp decline in exports for 2019

Cyprus sees sharp decline in exports for 2019

Cyprus’ total exports for this year have seen a sharp decline as they went from the €595.6 million recorded in June 2018 to  €227.8 million in June 2019, according to an official statement released by the Statistical Service of the Republic of Cyprus.

Exports to other EU Member States in June 2019 stand at €85.7 million as compared to €144.2 million in June 2018, while exports to Third Countries in June 2019 were €142.1 million as compared to last year’s €451.4 million.

The negative trend is confirmed when it comes to the number of total imports as well, as, in June 2019, it stood at €731.3 million, compared to €643.3 million in June 2018. Imports from other EU Member States in June 2019 were €479.6 million as compared to €426 million in June 2018.

The exports recorded in June 2019 include the transfer of economic ownership of vessels, with total value of €33.6 million, compared to last June’s €345 million in June 2018.

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