Cyprus trade deficit shrinks by one-fifth in Jan-Feb

The deficit on trade in goods shrank by more than a fifth in the first two months of 2009 as oil prices tumbled, compared with the same period of the previous year.
According to the Statistical Service Cystat, total imports/arrivals in January-February 2009 amounted to EUR 859.7 mln compared with EUR 1,091.1 mln in January-February 2008.
Imports/arrivals comprise imports from third countries and arrivals from other EU member states.
Total exports/dispatches in January-February 2009 reached EUR 141.4 mln compared with EUR 178.9 mln in January-February 2008.
Exports/dispatches comprise exports to third countries and dispatches to other EU member states.
The trade deficit amounted to EUR 718.3 mln in January-February 2009. a drop of 21.3% compared with EUR 912.2 mln recorded in January-February 2008.
During February 2009 alone total imports/arrivals were valued at EUR 417.3 mln.
Total exports/dispatches including stores and provisions in February 2009 amounted to EUR 74.4 mln.
Εxports/dispatches of domestically produced goods, including stores and provisions, were recorded as EUR 42.3 mln whilst exports/dispatches of foreign goods, including stores and provisions, amounted to EUR 32.1 mln.