Cyprus trade deficit posts expansion

Cyprus trade deficit posts expansion

Cyprus’ trade deficit increased by 1.5 billion euros in the period from January to August 2022 compared to the same period of 2021, according to provisional data issued on Monday by the Statistical Service of Cyprus (CyStat) for August 2022.

The deficit amounted to €5.12 billion in January-August 2022, which increased from €3.59 billion in January-August 2021.

Additionally, total imports of goods (from European Union member-states and from third countries) in January-August amounted to €7.64 billion as compared to €5.55 billion in January-August 2021, recording an increase of 37.7%. Total exports of goods (to EU member-states and to third countries) in January-August 2022 were €2.52 billion, compared to €1.96 billion in January-August 2021, registering an increase of 28.5%.

According to the provisional data, in August total imports of goods were €944 million, as compared to €706.2 million in August 2021, posting an increase of 33.7%. Imports from fellow EU member-states in August 2022 were €601.8 million and from third countries €342.2 million, compared to €458.8 million and €247.4 million respectively in August 2021.

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