CYPRUS: Trade deficit narrows from €300 mln to €95 mln in January

The trade deficit narrowed to EUR 94.8 mln in January, compared to 300 mln in December, which saw the past year close at a wider EUR 3.7 bln.

On the basis of preliminary estimates for foreign trade in January 2015, total imports and arrivals reached EUR 352.3 mln, of which EUR 255.3 mln were arrivals from other member states of EU and EUR 97.0 mn imports from third countries, the statistical service Cystat said.
It added that total exports/dispatches reached EUR 257.5 mln of which EUR 213.2 mln were dispatches to other member states of EU and EUR 44.3 mln exports to third countries.
In an earlier report, the trade deficit for the whole of 2014 widened to EUR 3.69 bln compared to EUR 3.22 bln in the year before, with imports continuing to rise and exports steadily falling.
The foreign trade statistics report for December by Cystat showed total imports/arrivals in January-December 2014 amounted to EUR 5.13 bln compared to EUR 4.83 bln in the year-earlier period. Total exports/dispatches reached EUR 1.44 bln compared to EUR 1.61 bln in January-December 2013.
Cystat said that during December 2014 total imports/arrivals were valued at EUR 379.9 mln while total exports/dispatches reached EUR 111.7 mln. Exports/dispatches of domestically produced goods, including stores and provisions, were EUR 57 mln, whilst exports/dispatches of foreign goods, including stores and provisions, were EUR 54.7 mln.