Insider Economy Trade balance shifts to deficit in March 

Trade balance shifts to deficit in March 

Cyprus foreign trade balance shifted to a deficit of €374.1 m in March from a €153 m surplus a year earlier, as exports to third countries plummeted.

According to preliminary estimates of the Statistical Service of Cyprus on foreign trade in the third month of 2019, total imports fell to €587.3 m compared with €729.9 m in March 2018.

Cystat said that imports from other EU member states in the third month of 2019 increased to €433.9 m from €391.2 m in March 2018, while imports from third countries fell to €153.5 m from €338.7 m.

Total exports in March 2019 shrunk to €213.2 m compared with €882.9 m a year earlier.

According to Cyprus’ Statistical Service, exports to other EU member states in March 2019 increased to €102 m compared with €82 m in March 2018, while exports to third countries dropped sharply to €111.2 m from €800.9 m.

(Cyprus News Agency)

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