Cyprus

Cyprus trade deficit smaller in 1H 2013

by fm

18th September 2013

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1 min read

Cyprus’ trade deficit recorded a significant drop during the first half of 2013, according to Eurostat. Compared to the respective period of 2012 the deficit was down by €700 mln. The total value of exports in January-June reached €800 mln, recording an increase of 9% compared to the respective period of 2012. Imports were down by 12%, reaching €2.3 bln from €2.8 bln. The trade deficit reached €1.5 bln compared to €2.2 bln during the same period of 2012.

Regarding the EU28, imports from China dropped by 6% reaching €132.8 bln, from Russia dropped by 3% reaching €103.9 bln, and from the U.S. dropped by 5% reaching €98.9 bln. During the same period, EU exports to China fell by 2% reaching €71.4 bln, to Russia increased by 2% reaching €59.6 bln, and to the US dropped by 2% reaching €142.9 bln.

The EU trade balance recorded a surplus of €43.9 bln in transactions with the USA, and with China and Russia deficits of €61.4 bln and €44.3 bln respectively.