Cyprus exports leap 16.3% in Q1

Exports of goods from Cyprus to the rest of the world leapt by 16.3% over the year earlier in the first quarter based on provisional figures for March, according to our analysis.
Exports in January-March reached EUR 261.2 mln, compared with EUR 224.6 mln in the same period of 2009.
Imports in the same period rose by 6.4% to EUR 1.48 bln, from EUR 1.39 bln in the first quarter of 2009.
The trade deficit in the first quarter therefore expanded by 3.0% to EUR 1.21 bln, having shrunk for the previous six quarters.
According to the Statistical Service, total exports/dispatches in March are provisionally estimated at EUR 105.4 mln, of which EUR 59.2 mln were dispatches to other Member States of the EU and EUR 46.2 mln exports to third countries.
Total imports/ arrivals were EUR 559.7 mln, of which EUR 368.0 mln were arrivals from other Member States of the EU and EUR 191.7 mln imports from third countries.
The trade balance was therefore provisionally estimated at EUR 454 mln in March, compared with EUR 441 mln in March 2009.
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