CYPRUS: Jan-Aug trade deficit at -2.8 bln

Cyprus had a trade deficit of EUR 2.8 bln in the first eight months of the year, with exports rising 10% to 2.0 bln in the January-August period, while imports were up 5% at 4.8 bln, according to Eurostat figures.

Exports to the EU were worth EUR 0.7 bln (a drop of -24% compared to the same period last year) and to the rest of the world at 1.2 bln (up 51% year-on-year.

Eurostat added that imports reached EUR 4.8 bln in the period, a 5% year-on-year rise, with 3.1 bln attributed to the EU for a -6% decrease and 1.7 bln from the rest of the world, or a 35% increase).

This resulted in a negative trade balance of -2.8 bln in total, -2.3 bln with the EU and -0.5 bln with the rest of the world (broadly unchanged since 2016).