The trade deficit for the first nine months of the year narrowed by about €1.2 bln due to a significant drop in imports, as well as a decrease in exports, according to the September provisional data released by the Cyprus statistical service.
Cystat final data for August also showed that halloumi cheese was the main export of local produce, earning some €239 mln for the first eight months of the year, followed by pharmaceuticals (€225 mln), potatoes (€37 mln), fruit, vegetables and juices (€32 mln) and fish (€31 mln).
The statistical service’s provisional data showed that total imports of goods in September were €944.2 mln as compared to €1,101.4 mln in September 2023, a decrease of 14.3%.
Imports from other European Union member states were €592.9 mln and from third countries €351.3 mln, compared to €638.5 mln and €462.9 mln, respectively, in September 2023. Imports in September include the transfer of economic ownership of vessels, with total value of €28.9 mln, as compared to €7.9 mln in September 2023.
Total exports of goods in September dropped to €350.2 mln compared to €444.2 mln in September last year, a decrease of 21.2%. Exports to other EU member states were €109.6 mln and to third countries €240.6 mln, compared to €86.2 mln and €358 mln, respectively, in September 2023.
Total imports of goods in January-September amounted to €8,539.7 mln, compared to €10,070.1 mln in January-September 2023, a decrease of 15.2%.
Total exports of goods in January-September reached €2,941.3 mln compared to €3,289.4 mln in January-September 2023, a drop of 10.6%.
In the January-September period this year, the trade deficit narrowed to €5,598.4 mln from €6,780.7 mln in the corresponding period of 2023.
Imports, exports down in August (final data)
Total imports of goods amounted to €966.6 mln in August as compared to €1.243.1 mln in August 2023, a decrease of 22.2%.
Exports of domestically produced products, including stores and provisions, in August 2024 were €192.7 mln as compared to €220.3 mln in August 2023, a decrease of 12.5%.
Domestic exports of industrial products in August 2024 were €185.4 mln compared to €214.1 mln in August 2023, whilst domestic exports of agricultural products rose to €6.5 mln, from €5.5 mln in August 2023. Exports of foreign products, including stores and provisions, in August 2024 were €84.0 mln as compared to €202.5 mln in August 2023, a decrease of 58.5%. 
