Insider Economy Cyprus trade deficit in January – September dips by an annual 12.3%...

Cyprus trade deficit in January – September dips by an annual 12.3% due to Covid

Cyprus’ external trade deficit dipped by 12.3% year on year in January – September 2020 reflecting the impact of the coronavirus pandemic both on Cyprus’ imports and exports.

According to data released by the Cyprus Statistical Service (CyStat), the trade for the period declined to €3,287.1 million compared to €3,748.9 mn in the corresponding period of 2019.

Total imports of goods (from EU member states and from third countries) in January – September 2020 amounted to €5,415.9 mn as compared to €6,156.7 mn in January – September 2019, recording a decrease of 12%.

Total exports of goods (to EU member states and to third countries) in January – September 2020 declined by 11.6% to €2,128.8 mn from €2,407.9 mn in the same period of 2019.

The European Union was Cyprus` main trading partner with a share of €3,255.8 mn of total imports, while imports from all other European countries reached €612 mn in January – September 2020. Imports from the rest of the world amounted to €1,548 mn, CyStat added.

Exports to the European Union accounted for €602.9 mn, while exports to all other European countries for €220.9 mn in January – September 2020.

According to CyStat, exports to the rest of the world amounted to €1,305 mn.

(CNA)

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