Insider Economy Cyprus trade deficit declines to €3.05 billion

Cyprus trade deficit declines to €3.05 billion

Cyprus trade deficit declined to €3.05 billion for the period of January – September 2018, as export growth surpassed imports, data released by the Statistical Service show.

The island’s trade deficit declined by 5.6% to €3,049.5 million in January-September 2018 compared to €3,231.9 ml in the respective period of 2017.

Total imports in January-September 2018 rose by 18.5% to €6,586.8 ml as compared to €5,556.6 ml in January-September 2017.

Total exports (covering total exports to third countries and to EU Member States) in January-September 2018 spiked by 45.3% to €3,537.3 ml compared to €2,324.8 ml in January-September 2017.

According to Cystat, total exports of domestically produced goods, excluding stores and provisions, in January – September 2018 were €1,255.8 ml compared to €904.0 ml in January – September 2017.

Total domestic exports of industrial products in January – September 2018 were €1,172.9 ml compared to €808.0 ml in January – September 2017.

Total domestic exports of agricultural products in January – September 2018 were €75.0 mn compared to €81.9 ml in January – September 2017, Cystat added.

(Cyprus News Agency)

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