There is a rise in Cyprus’ trade deficit during the first five months of 2010, as compared to the corresponding period a year ago.
Total imports from third countries and arrivals from EU member-states amounted in January-May 2010 to 2 billion 546 million, as compared to 2 billion 328,8 million euros in January-May 2009.
Total exports in January-May 2010 were 438,6 million, compared to 404,3 million in January-May 2009.
This data stems from the latest report of the Statistical Service of the Republic of Cyprus, concerning intra- and extra-EU trade statistics for January-May 2010.
As a result of the above developments, the trade deficit was 2 billion 107,5 million in January-May 2010 compared to 1 billion 924,5 million euros in the corresponding period in 2009.
According to the report, EU member-states continue to be the main source of supply of goods to Cyprus, with a share of 1 billion 765,3 million euros of total imports. Major suppliers within the Union were Greece with 478,3 million, Italy with 224,6 million, the United Kingdom with 217,9 million and Germany with 209,9 million euros.
Israel tops the import originations amongst third countries, with the value of goods amounting to 657,7 million euros. Other major exporting countries to Cyprus are China, Japan, the United States and Russia.
Mineral products head the import list with 512,5 million, followed by machinery, electrical equipment and parts, valued at 391,8 million euros.
Vehicles, aircraft, vessels and associated transport equipment trails with 278,6 million, followed by prepared foodstuffs, beverages, spirits and tobacco, worth 224,0 million euros.
Concerning Cyprus’ exports to the European Union, goods accounted for 230,2 million euros of the total dispatches. Exports to Greece accounted for 87,3 million, followed by the two other major export destinations, Germany and the United Kingdom.
Exports to Near and Middle Eastern countries occupied the second place in importance with 68,8 million euros.
Amongst the major export products, that of the chemical or allied industries head the list with 79,7 million, followed by mineral products, worth 56,5 million euros. Machinery, electrical equipment and parts are in the third place with 55,6 million worth of exports and vegetable products follow suit with 53,7 million euros.
