Cyprus preliminary trade deficit shrinks 29.5% in May

On the basis of preliminary estimates for foreign trade in May 2009, total imports/ arrivals reached EUR 478.6 mln, of which EUR 352.9 mln were arrivals from other member states of the EU and EUR 125.7 mln were imports from third countries.
Total exports/dispatches amounted to EUR 90.4 mln of which EUR 61.1 mln were dispatches to other member states of the EU and EUR 29.2 mln were exports to third countries.
The preliminary trade deficit in May was therefore EUR 388.2 mln, a fall of 29.5% compared with May 2008 according to our calculations.
Meanwhile, according to revised figures for April, total imports/arrivals in January-April 2009 amounted to EUR 1,826.9 mln compared with EUR 2,301.1 mln in January-April 2008.
Total exports/dispatches (covering) in January-April 2009 reached EUR 304.8 mln compared with to EUR 365.7 mln in January-April 2008.
The trade deficit was EUR 1,522.1 mln in January-April 2009 a drop of 21.4% compared with the EUR 1,935.4 mln recorded in January-April 2008, according to our calculations.
Total imports/arrivals cover imports from third countries and arrivals from other member states, while total exports/despatches cover total exports to third countries and dispatches to other member states.
During April 2009 alone, total imports/arrivals reached EUR 449.2 mln and total exports/dispatches including stores and provisions, amounted to EUR 85.7 mln.
Εxports/dispatches of domestically produced goods, including stores and provisions, were EUR 46.0 mln whilst exports/dispatches of foreign goods, including stores and provisions, were EUR 39.7 mln.