Cyprus exports rise 23.7% in January-November

Total exports of goods continued to rise strongly in November 2005, reaching CYP 68.2 mln, an increase of 29.3% on November 2004.

On a year-to-date basis, total exports rose by 23.7% to CYP 619.1 mln. Exports within the EU area rose by much more (43%) than exports outside the EU (13.3%).

However, a breakdown of figures not yet made available is expected to show that the main reason for the rise in exports is higher oil prices, which has pushed up re-exports through transit trade.

Exports of domestically manufactured goods are expected to have declined.

Imports up 9% year to date

Imports rose by 11.6% year on year in November to reach CYP 286.7 mln. As usual, they exceeded imports more than fourfold.

In the period January-November, imports rose by 9% to reach CYP 2.6 bln.

The trade deficit in the first 11 months reached CYP 2.0 bln.