Cyprus’ trade balance drops in August 2009

Cyprus’ trade balance dropped in August 2009, mainly due to the reduction of imports by 56 million euro, in comparison with the previous month.

During the first eight months of 2009, the trade balance reached 3.08 billion euro, compared to 4.16 billion during the first eight months of 2008.

Total imports/arrivals dropped to 435.22 million euro in August 2009, compared to 491.21 million in July 2009, according to preliminary estimates released on Monday by the Statistical Service.

In August 2009 total exports/dispatches reached 62.21 million euro while in July 2009 they amounted to 89.29 million euro.

During the first eight months of 2009, total imports/arrivals reached 3.71 billion euro in comparison to 4.95 billion euro during the first eight months of 2008. Total exports/dispatches reached 629.65 million euro during January-August 2009, while during the respective months of 2008 they amounted to 788.08 million.

From the total imports/arrivals in August 2009, 317.3 million euro were arrivals from other EU member states 117.9 million euro imports from third countries. Total exports/dispatches were 62.2 million euro, of which 36.6 million euro were dispatches to other EU member states and 25.7 million euro exports to third countries.