Insider Economy Cyprus trade deficit drops to €4.2 billion in January - November 2018

Cyprus trade deficit drops to €4.2 billion in January – November 2018

Cyprus` export of goods to the rest of the world in  January – November 2018 reached €4.0 bn, a 50.1% increase compared to the same period of 2017, according to a first estimate published by Eurostat. Exports to the EU reached €1.1 bn, recording a 9.3% increase while export outside the EU amounted to €2.9 bn marking a 75.6% increase.

Meanwhile imports reached 8.2 bn, a 10.8% increase (€4.8 bn or 7.1% from the EU and €3.4 bn or 16.4% increase from the rest of the world) contributing to a decreased trade deficit of €4.2 billion compared to €4.8 billion in the same period of 2017 (€3.7 bn with the EU, compared to €3.5 billion in 2017 and €0.5 billion with the rest of the world, compared to €1.3 billion in 2017).

The first estimate for euro area (EA19) exports of goods to the rest of the world in November 2018 was €203.0 billion, an increase of 1.9% compared with November 2017 (€199.2 bn). Imports from the rest of the world stood at €184.0 bn, a rise of 4.7% compared with November 2017 (€175.7 bn). As a result, the euro area recorded a €19.0 bn surplus in trade in goods with the rest of the world in November 2018, compared with €23.4 bn in November 2017. Intra-euro area trade rose to €170.5 bn in November 2018, up by 1.5% compared with November 2017.

In January to November 2018, euro area exports of goods to the rest of the world rose to €2 098.4 bn (an increase of 4.2% compared with January-November 2017), while imports rose to €1 923.2 bn (an increase of 6.6% compared with January-November 2017). As a result, the euro area recorded a surplus of €175.2 bn, compared with €210.4 bn in January-November 2017. Intra-euro area trade rose to €1 797.3 bn in January-November 2018, up by 5.7% compared with January-November 2017.

The first estimate for extra-EU28 exports of goods in November 2018 was €172.7 billion, up by 2.6% compared with November 2017 (€168.4 bn). Imports from the rest of the world stood at €175.9 bn, up by 7.6% compared with November 2017 (€163.4 bn). As a result, the EU28 recorded a €3.2 bn deficit in trade in goods with the rest of the world in November 2018, compared with a surplus of €4.9 bn in November 2017. Intra-EU28 trade rose to €313.1 bn in November 2018, +2.5% compared with November 2017.

In January to November 2018, extra-EU28 exports of goods rose to €1 800.0 bn (an increase of 4.7% compared with January-November 2017), while imports rose to €1 825.3 bn (an increase of 6.7% compared with January- November 2017). As a result, the EU28 recorded a deficit of €25.2 bn, compared with a surplus of €9.0 bn in January-November 2017. Intra-EU28 trade rose to €3 256.2 bn in January-November 2018, +5.3% compared with January-November 2017.

(Cyprus News Agency)

Top Stories

Increased number of patients of COVID-19 needing treatment at ICU

The number of patients with COVID-19 being treated at the Famagusta General Hospital, which operates as the referral institution for COVID-19, is rising and...

Preparations for the arrival of Hurricane Zeta in New Orleans

Katy D'Aquino boards up the gallery she opened with her husband Jason in January, Fawkes Fine Art, for the eighth time since the beginning...

Hundreds of checks for COVID-19 measures – less than 100 fines

Continuing the COVID-19 campaign, the police fined 65 citizens from all over Cyprus for not wearing their masks, while three people in Limassol and...

Seven arrested in Limassol for last night’s incidents

The Limassol police arrested seven persons for last night’s incidents, during which five policemen were injured, including one member of the Fire Service. Moreover,...

Limassol woman lost thousands in Bitcoin Internet fraud

The Limassol CID is investigating a case of internet fraud and of obtaining money under false pretenses. According to the complaint filed by a...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...