Cyprus trade deficit shrinks (prov) 36% in November

The deficit on trade in goods shrank by 36% in November, according to preliminary figures.
Weaker demand appears to be behind a big drop in imports. Total imports/ arrivals dropped to a provisional EUR 515.0 mln in November 2011, from EUR 714.3 mln in November 2010.
Total exports/dispatches, meanwhile, rose to EUR 128.1 mln from 108.8 mln in November 2010.
The trade deficit therefore dropped to EUR 386.9 mln compared with 605.6 mln in November 2010. For the first 11 months as a whole, the trade deficit narrowed to EUR 4.4 bln, compared with EUR 4.9 bln in the same period of 2010.
Revised figures for October show that total imports/arrivals in January-October 2011 amounted to EUR 5.19 bln compared with EUR 5.25 bln in January-October 2010.
Total imports comprise imports from third countries and arrivals from other EU member states.
Total exports/dispatches in the first ten months reached EUR 1.15 bln compared with EUR 923.5 mln in January-October 2010.
Total exports comprise exports to third countries and dispatches to other member states.
The trade deficit therefore dropped to EUR 4,045.6 mln in January- October 2011 compared with EUR 4,325.5 mln in the corresponding period of 2010.

Fiona Mullen