Cyprus trade deficit drops by â‚¬917 m. in first 9 months of 2013

A significant drop in imports in the first nine months of 2013 resulted in a reduction of the trade deficit by €917.5 million compared to the same period of 2012, data published on Monday by the Cyprus Statistical Service show.

According to the monthly report “Intra-Extra E.U Trade Statistics (Summarised Data)” for September 2013, total imports/arrivals (covering total imports from third countries and arrivals from other Member States) in January-September 2013 amounted to €3,554.9mn as compared to €4,349.7mn in January-September 2012.

Total exports/dispatches (covering total exports to third countries and dispatches to other Member States) in January-September 2013 were €1,200.7mn compared to €1,078.0mn in January-September 2012.

The trade deficit stood at €2,354.2mn in the period of January-September 2013 compared to €3,271.7mn in the corresponding period of 2012.

At the same time the data show that during September 2013 total imports/arrivals (covering total imports from third countries and arrivals from other Member States) were valued at €426.9mn.

On the other hand total exports/dispatches (covering total exports to third countries and dispatches to other Member States), including stores and provisions, in September 2013 amounted to €145.6mn.

Exports/dispatches of domestically produced goods, including stores and provisions, were recorded at €49.8mn whilst exports/dispatches of foreign goods, including stores and provisions, at €95.7mn.