Insider Economy Trade deficit declines in the first two months of the year

Trade deficit declines in the first two months of the year

Cyprus trade deficit narrowed by €180 mn in the first two months of the year and stood at €658,0 mn compared with €838,0 mn in the corresponding period of 2018, the Statistical Service said on Thursday.

According to Cystat, total imports in January-February 2019 increased to €1.370,4 mn compared with €1.233,9 mn in January-February 2018, while total exports rose to €712,4 mn from €395,9 mn in the same period of 2018.

In February 2019 total imports fell to €559,2 mn compared with €612,1 mn in February 2018.

Total exports, including stores and provisions, in the second month of 2019 decreased to €178,8 mn compared with €190,4 mn in February 2018.

Exports of domestically produced goods, including stores and provisions in February 2019 also decreased to €87,5 mn from €89,9 mn in the same month of the previous year whilst exports of foreign goods, including stores and provisions, in February 2019 fell to €91,3 mn compared with €100,5 mn in February 2018.

Total domestic exports of industrial products in the second month of 2019 were down to €75,3 mn from €77,6 mn in February 2018.

Total domestic exports of agricultural products in February 2019 fell to €10,1 mn compared with €10,4 mn in February 2018.

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