CYPRUS: Trade deficit widens as exports take a tumble

The trade deficit almost doubled in January to €224 mln from €128 mln the previous month, due mainly to a great fall in exports and a smaller drop in imports.

 
According to data published by the statistical service Cystat in its January report “Intra-Extra EU Trade Statistics (Summarised Data)”, total imports/arrivals (covering total imports from third countries and arrivals from other EU member states) in January amounted to €335.4 mln as compared to €388.6 mln in January 2015.
Total exports/dispatches (covering total exports to third countries and dispatches to other member states) in January were €111.2 mln compared to €260.3 mln in January 2015.
Thus, the trade deficit was €224.2 mln in January compared to €128.3 mln in the corresponding month of 2015.
Εxports /dispatches of domestically produced goods, including stores and provisions, were €61.5 mln whilst exports /dispatches of foreign goods , including stores and provisions, were €49.7 mln in January.