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Cyprus recorded a €-3.8 billion trade deficit

15/11/2019 15:56

The first estimate for euro area (EA19) exports of goods to the rest of the world in September 2019 was €196.2 billion, an increase of 5.2% compared with September 2018 (€186.5 bn), according to data released today by Eurostat, the statistical service of the EU.

According to Eurostat, imports from the rest of the world stood at €177.6 bn, a rise of 2.1% compared with September 2018 (€173.9 bn). As a result, the euro area recorded a €18.7 bn surplus in trade in goods with the rest of the world in September 2019, compared with +€12.6 bn in September 2018. Intra-euro area trade rose to €163.4 bn in September 2019, up by 0.9% compared with September 2018.

In January to September 2019, euro area exports of goods to the rest of the world rose to €1 741.9 bn (an increase of 2.9% compared with January-September 2018), and imports rose to €1 586.3 bn (an increase of 2.7% compared with January-September 2018). As a result the euro area recorded a surplus of €155.5 bn, compared with +€147.3 bn in January-September 2018. Intra-euro area trade rose to €1 470.9 bn in January-September 2019, up by 1.4% compared with January-September 2018.

The first estimate for extra-EU28 exports of goods in September 2019 was €168.3 billion, up by 4.3% compared with September 2018 (€161.3 bn). Imports from the rest of the world stood at €173.3 bn, up by 6.4% compared with September 2018 (€162.8 bn). As a result, the EU28 recorded a €5.0 bn deficit in trade in goods with the rest of the world in September 2019, compared with -€1.5 bn in September 2018. Intra-EU28 trade rose to €301.0 bn in September 2019, +2.3% compared with September 2018.

In January to September 2019, extra-EU28 exports of goods rose to €1 502.8 bn (an increase of 3.6% compared with January-September 2018), and imports rose to €1 532.8 bn (an increase of 4.9% compared with January, September 2018). As a result, the EU28 recorded a deficit of €29.9 bn, compared with -€10.3 bn in January -September 2018. Intra-EU28 trade rose to €2 671.9 bn in January-September 2019, +1.8% compared with January-September 2018.

Finally in Cyprus the worth of total exports was €2,4 billion for the same period, a -34% drop compared to the same period of last year (€1.2 billion with the EU, 29% increase dna €1.2 billion with the rest of the world, or - 55%). Meanwhile the total value of imports was €6.1 billion with a -7% drop (€4.1 from the EU, or 3% increase, and €2.1 billion from the rest of the world, -21% drop). As a result Cyprus recorded a €-3.8 billion trade deficit (€-2.9 billion with the EU and €-0.9 billion with the rest of the world.