News Local Cyprus' trade deficit at -3.1 billion for the first 9 months of...

Cyprus’ trade deficit at -3.1 billion for the first 9 months of 2018

The first estimate for euro area (EA19) exports of goods to the rest of the world in September 2018 was €184.8 billion, a decrease of 1.0% compared with September 2017 (€186.6 bn). Imports from the rest of the world stood at €171.7 bn, a rise of 6.4% compared with September 2017 (€161.3 bn). As a result, the euro area recorded a €13.1 bn surplus in trade in goods with the rest of the world in September 2018, compared with +€25.3 bn in September 2017. Intra-euro area trade rose to €161.1 bn in September 2018, up by 2.2% compared with September 2017.

In Cyprus Total exports amounted to 3 billion, a 53% increase compared to the same period of 2017 (1bllion to the EU, -1% decrease and 3 billion to the rest of the world or 86% increase). Total imports amounted to 7 billion or 19% increase compared to the same period of 2017 (4 billion from the EU, or 9% increase and 3 billion from the rest of the world or 37% increase). –

As a result, Cyprus recorded a -3.1 billion trade deficit, compared to -3.2 billion in the same period of 2017.

In January to September 2018, euro area exports of goods to the rest of the world rose to €1 686.0 bn (an increase of 3.6% compared with January-September 2017), while imports rose to €1 542.9 bn (an increase of 5.8% compared with January-September 2017). As a result, the euro area recorded a surplus of €143.1 bn, compared with +€169.2 bn in January-September 2017. Intra-euro area trade rose to €1 449.8 bn in January-September 2018, up by 5.7% compared with January-September 2017.

The first estimate for extra-EU28 exports of goods in September 2018 was €160.2 billion, up by 2.5% compared with September 2017 (€156.3 bn). Imports from the rest of the world stood at €162.0 bn, up by 5.0% compared with September 2017 (€154.3 bn). As a result, the EU28 recorded a €1.8 bn deficit in trade in goods with the rest of the world in September 2018, compared with a surplus of €2.0 bn in September 2017. Intra-EU28 trade rose to €291.0 bn in September 2018, up by 0.5% compared with September 2017.

In January to September 2018, extra-EU28 exports of goods rose to €1 446.9 bn (an increase of 4.1% compared with January-September 2017), while imports rose to €1 461.5 bn (an increase of 5.5% compared with January- September 2017). As a result, the EU28 recorded a deficit of €14.6 bn, compared with a surplus of €5.0 bn in January-September 2017. Intra-EU28 trade rose to €2 617.2 bn in January-September 2018, up by 5.1% compared with January-September 2017.

(Cyprus News Agency)

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