Exports slip in March on year earlier

On the basis of preliminary estimates for foreign trade in March 2006, total exports/dispatches slipped by 2.1% in local currency terms to CYP 56.7 mln in March 2005, compared with CYP 57.9 mln in March 2005.

In March 2006 exports (dispatches) to other Member States of EU reached CYP 34.2 mln (marking a fall of 3.5% year on year).

Exports to “third” (non-EU) countries reached CYP 22.5 mln, the same as the year earlier.

Total imports/ arrivals rose by only 1.5% year on year to CYP 260.3 mln.

Arrivals from other member states reached CYP 169.2 mln (a fall of 7.3%) while arrivals from other member states of EU reached CYP 91.1 mln (a rise of 23.1%).

In the period January to March, total exports reached CYP 157.7 mln and total imports reached CYP 744.7 mln, leaving a trade deficit of CYP 586.9 mln, which was 13% higher than in the year-earlier period, no doubt as a result of high oil prices.

Fiona Mullen