Insider Economy Trade deficit declines in first two months as exports to EU rise...

Trade deficit declines in first two months as exports to EU rise significantly

Cyprus trade deficit recorded a significant drop in the first two months of the year, as exports rose significantly by €300 mln, compared to the same period last year.

Preliminary estimates on Cyprus’ foreign trade in February 2019, announced on Tuesday by the Statistical Service, showed that the trade deficit in January and February was down to €656.98 mln, compared with €838.06 mln in the same months last year.

Imports rose to €1.36 bln in the first two months of 2019, from €1.23 bln in the same period of 2018, while exports soared to €706.53 mln, compared with €395.88 mln between January and February 2018, as a result of a steep increase in exports to other EU member states, that rose to €515.25 mln, from €167.45 mln in the same months last year.

Furthermore, the Statistical Service estimated that in February total imports declined to €552.3 mln from €612.1 mln in February 2018.

Imports from other EU Member States in February 2019 fell to €407.4 mln from €411.7 mln in the same month of the previous year. Imports from third countries also fell to €144.9 mln compared with €200.4 mln in February 2018.

Total exports in February 2019 dropped to €172.9 mln compared with €190.4 mln in February 2018.

Exports to other EU Member States in February 2019 stood at €76.2 mln compared with €78 mln in February 2018. Exports to Third Countries in February 2019 declined to €96.7 mln from €112.4 mln in the same month of 2018.

(Cyprus News Agency)

Top Stories

Forestry Department red alert for forest fires

    The Forestry Department has issued a red alert for forest fires for today. It stressed that it is prohibited to light a fire without permission...

No articulated lorries on highways, main roads on Sundays

    Police have prohibited articulated lorries from the highways and main roads tomorrow and on July 19 and 26 in an attempt to ease Sunday...

19 year old woman critical after road collision

    A 19 year old woman is in critical condition in hospital after a collision between two cars on the Limassol-Platres road a little before...

A scorcher today, temperatures to hit 41 C inland

    Saturday will be a scorcher with temperatures hitting 41 C inland and extreme high temperature in force  from 11 am until 5 pm. There will...

‘A free man’: Trump commutes longtime adviser Roger Stone’s prison sentence

  President Donald Trump commuted the sentence of his longtime friend and adviser Roger Stone on Friday, sparing him from prison after he was convicted...

Taste

Moungra

Moungra is a traditional Cypriot mezze which consists in cauliflower pickled in fermented bread dough and typically served as an appetizer or meze. It...

Cheesy Eggplant Rolls

Ingredients 4 Eggplants 2 tbsp olive oil 1 chopped onion, 2 grated carrots 1 garlic clove (sliced) ¾ of the cup finely chopped canned tomato, ½ ts sugar 1 ts oregano 2 tbsp...

Black eyed peas with chard (Louvia me laxana)

Ingredients: 2 cups black eyed peas small lemon (juice) + 1 tsp lemon zest 1 bunch Cypriot chards olive oil & lemon for serving salt & pepper Method: Step 1 Put the...

How to make triandafillo ice cream, by UK Cypriot chef Loulla Astin

  Just in time for the scorching heat, UK Cypriot chef Loulla Astin has shared her recipe for refreshing triantafillo ice cream -- or as...