Trade deficit up 16% until April

A sharp jump in imports during the first four months of the year helped push the trade deficit up by 15.88% year-on-year to CYP 799.85 mln from CYP 690.26 mln a year ago in the same period.

The Statistics Department announced that total imports during the first four months of 2006 ending April 2006 were up 13.53% to CYP 1.02 bln while total exports increased 5.69% y/y to CYP 218.77 mln.

On the basis of preliminary estimates for Foreign Trade in April 2006, total imports/ arrivals were CYP 251.2 mln, of which CYP 164.9 mln were arrivals from other Member States of E.U. and CYP 86.3 mln imports from Third countries.

Total exports/dispatches were CYP 52.2 mln of which CYP 31.1 mln were dispatches to other Member States of E.U. and CYP 21.1 mln exports to Third Countries.