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Trade deficit up by €715.1 mn between January - September 2021

10/11/2021 09:53

The trade deficit recorded an annual increase of €715.1 mn in the first nine months of 2021. The Cyprus Statistical Service (CyStat) announced on Tuesday that the trade deficit was €3,987.6 mn in January – September 2021 from €3,272.5 mn in the corresponding period of 2020.

It said that total imports of goods from EU Member States and from third countries in January – September 2021 rose to €6,119.8 mn as compared with €5,408.3 mn in January – September 2020, recording an increase of 13.2%. Total exports of goods to EU Member States and to third countries in January – September 2021 decreased slightly to €2,132.3 mn compared with €2,135.7 mn in January – September 2020, registering a decrease of 0.2%.

CyStat said that in August total imports of goods from EU Member States and from third countries increased to €688.3 mn in August 2021 from €496.9 mn in August 2020, recording an increase of 38.5%.

Exports of domestically produced products, including stores and provisions, in August 2021 were €107.5 mn compared with €102.5 mn in August 2020, recording an increase of 4.9%. Domestic exports of industrial products in August 2021 were €102.1 mn compared with €96.3 mn in August 2020, whilst domestic exports of agricultural products in August 2021 were €4.1 mn compared with €4.0 mn in August 2020.

Exports of foreign products, including stores and provisions, in August 2021 rose to €175.6 mn from €97.4 mn in August 2020, increasing by 80.3%.

According to provisional data, in September 2021 total imports of goods increased by 5.7% to €617,6 mn from €584.2 mn in September 2020, Imports from other EU Member States in September 2021 were €418.1 mn and from third countries €199.6 mn, compared with €385.8 mn and €198.4 mn respectively in September 2020. Imports in September 2021 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €17.8 mn with €52.6 mn in September 2020.

Total exports of goods in September 2021 increased slightly by 1.6% to €179.3 mn from €176.5 mn in September 2020. Exports to other EU Member States in September 2021 were €63.4 mn and to third countries €115.8 mn, compared with €58.8 mn and €117.7 mn respectively in September 2020. Exports in September 2021 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €8.3 mn compared with €17.4 mn in September 2020.