The trade deficit in Cyprus rose by 23% in the first seven months of the year, according to provisional figures for July.
On the basis of preliminary estimates for July, total exports in the first seven months of 2008 reached EUR 687,091, a rise of 4.1% compared with the EUR 659,885 recorded in the same period of 2007.
Total imports reached EUR 4,265,471 (EUR 4.3 bln), a rise of 19.6% compared with the EUR 3,566,024 recorded in January-July 2007.
The trade deficit was EUR 3,578,380, 23.1% higher than the EUR 2,906,139 recorded in the first seven months of 2007.
The Cyprus trade deficit in 2007 was EUR 5.3 bln, or 34% of GDP. It is normally covered by substantial inflows on services and foreign bank deposits.
Revised figures for January to June
According to revised figures for January-June, total imports/arrivals (covering total imports from third countries and arrivals from other member states) in January-June 2008 amounted to EUR 3,571.8 mln, compared with EUR 3,009.3 mln in January-June 2007.
Total exports/dispatches (covering total exports to third countries and dispatches to other Member States) in January-June 2008 were EUR 579.6 mln, compared with EUR 574.2 mln in January-June 2007.
The trade deficit was EUR 2,992.2 mln in January-June 2008 compared with EUR 2,435.1 mln in January-June 2007.
During June 2008 total imports/arrivals (covering total imports from third countries and arrivals from other Member States) valued at EUR 623.8 mln.
Total exports/dispatches (covering total exports to third countries and dispatches to other Member States), including stores and provisions, in June 2008 amounted to EUR 109.7 mln.
Εxports/dispatches of domestically produced goods, including stores and provisions, were EUR 47.5 mln whilst exports/dispatches of foreign goods, including stores and provisions, were EUR 62.2 mln.
The monthly report “Intra-Extra E.U Trade Statistics (Summarised Data)” for Jun 2008 is available from the Printing Office of the Republic of Cyprus in Nicosia at the price of EUR 3.00/CYP 1.76.
The report is also available is available for download free of charge from the website of the Statistical Service, under the Section “Publications” (Category: Monthly Publications, Theme: External Trade, Subtheme: All).
