ECONOMY: Cyprus trade deficit declines in first four months

The island’s trade deficit narrowed by 19.3% in the first four months to April, the Cyprus Statistical Service said.

 Cyprus’ trade deficit was €1.35 bln in January – April compared to €1.67 bln in the same four-month last year, according to data released Monday.

Total imports increased 18.95% in January – April amounting to €2.95 bln from €2.48 bln last year.

Total exports in January – April 2018 almost doubled €1.60 bln against €811.5 mln in January – April 2017.

Total exports of domestically produced goods, excluding stores and provisions, in January – April 2018 were €435.1 mln compared to €395.4 mln in 2017.

Total domestic exports of industrial products were €389.4 mln from €346.9 mln in 2017. Total domestic exports of agricultural products in January – April 2018 reached €42.8 mln compared to €41.5 mln in 2017.