Cyprus trade deficit shrinks in Jan-Feb–UPDATE

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.
Meanwhile,
On the basis of preliminary estimates for March 2009, total imports/ arrivals reached EUR 410.5 mln, of which EUR 256.8 mln were arrivals from other member states of the EU and EUR 153.7 mln were imports from third countries.
Total exports/dispatches reached EUR 65.9 mln, of which EUR 33.0 mln were dispatches to other member states of the EU and EUR 32.9 mln exports to third countries.
The preliminary trade balance in the first three months of 2009 fell to EUR 1.06 bln, compared with EUR 1.43 bln in the same period of 2008.