CYPRUS: Trade deficit shrinks in first seven months of 2012

Cyprus’ trade deficit decreased during the first seven months of 2012, according to data released today by Eurostat. The deficit was reduced by 300 mln euros, compared to the same period last year.

Moreover, the data show that total EU imports from China increased by 1%, reaching 166.2 bln while imports from Russia increased by 3%, at 121.9 bln. Imports from the US marked an 11% increase, reaching 122.6 bln.
On the other hand, EU exports to China totaled 85.7 bln (11% increase), exports to Russia reached 70 bln (18% increase), while exports to the States amounted to 171.6 bln, marking a 13% increase.