The trade imbalance continues to increase in Cyprus as import growth outstrips export growth. In August the trade deficit widened to EUR 481.4 mln in August 2008 from 459.5 mln in August 2007, according to preliminary figures.
Total imports/arrivals in August alone reached EUR 564.3 mln, while total exports/dispatches recorded EUR 82.8 mln.
Of the total imports, EUR 392.0 mln were arrivals from other EU Member States and EUR 172.3 mln imports from third countries.
Of the total exports/dispatches EUR 56.6 mln were dispatches to other Member States of E.U. and EUR 26.2 mln exports to third countries.
The August performance brought the total trade deficit for the first eight months of the year to EUR 4.1 bln, compared with EUR 3.4 bln in the same period of 2007.
Total imports rose in this period by 19.4%, while total exports, which are also six times smaller than imports, rose in the same period by only 4.9%.
Revised figures for January-July
Revised figures have been released for January-July. According to these, total imports/arrivals (covering total imports from third countries and arrivals from other member states) in January-July 2008 amounted to EUR 4,349.6 mln, compared with EUR 3,566.0 mln in January-July 2007.
Total exports/dispatches (covering total exports to third countries and dispatches to other member states) in January-July 2008 were EUR 689.4 mln, compared with EUR 659.9 mln in January-July 2007.
The trade deficit was EUR 3,660.3 mln in January-July 2008, compared with EUR 2,906.1 mln in January-July 2007.
During July 2008 total imports/arrivals (covering total imports from third countries and arrivals from other member states) valued at EUR 778.0 mln.
Total exports/dispatches (covering total exports to third countries and dispatches to other member states), including stores and provisions, in July 2008 amounted to EUR 109.8 mln.
Εxports/dispatches of domestically produced goods, including stores and provisions, were EUR 46.9 mln whilst exports/dispatches of foreign goods, including stores and provisions, were EUR 62.9 mln.
