GDP rises 1,8% in first quarter 2011
Cyprus trade deficit for January – March 2011 declined by 1.31% compared to the corresponding period of 2010, figures released by Cyprus' Statistical Service show.
According the monthly report “Intra-Extra EU Trade Statistics (Summarised Data)” for March 2011, Cyprus' trade deficit reached 1.227,1 million euro in January-March 2011 compared to 1.243,5 million in the same period of 2010.
Total imports/arrivals for March 2011 (covering total imports from third countries and arrivals from other member states) in January-March 2011 amounted to 1.560,8 mn euro compared to 1.510,5 mn in January-March 2010, whereas total exports/dispatches (covering total exports to third countries and dispatches to other member states) in January-March 2011 were 333.7 mn compared to 266,9 mn in January-March 2010.
During March total imports/arrivals (covering total imports from third countries and arrivals from other member states) amounted to at 582.2 mn euro.
Total exports/dispatches (covering total exports to third countries and dispatches to other member states), including stores and provisions, in March 2011 amounted to 126.3 mn euro. Εxports/dispatches of domestically produced goods, including stores and provisions, were 70.6 mn while exports/dispatches of foreign goods, including stores and provisions, were 55.7 mn euro.
GDP rises 1,8% in first quarter 2011
GDP growth rate in real terms during the first quarter of 2011 is estimated at 1,8% over the corresponding quarter of 2010, according to latest figures from the Cyprus Statistical Service.
Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 1,7%.
Growth rate of GDP, at constant 2005 prices, rose in the first quarter of 2011 to 3.64 billion euros (3640.7 million), compared to 3.57 billion euros (3577.7 million) in the corresponding quarter of 2010.
At current prices the GDP rose to 4.17 billion euros (4176.8 million), compared to 4.06 billion euros (4063.2 million) in the first quarter of 2010.
According to the Statistical Service, the secondary sector of the economy (construction, industry) continues to show negative growth rate, while the areas of trade, tourism, banking and Services (Public Administration, Education, Health and other services) mark positive growth rates.
Compared with the last quarter of 2010, GDP was unchanged in the first quarter of 2011.
In the last quarter of 2010, GDP growth rose to 2.5% annually.
