Exports grew more than imports did in January, narrowing the trade deficit of Cyprus by €138,8 mn.
The Statistical Service reported on Thursday that “the trade deficit was €277,6 mn in January 2019 compared with €416,4 mn in the corresponding month of 2018”.
The data agency said that total imports in January 2019 stood at €811,2 mn compared with €621,9 mn in January 2018, while total exports in January 2019 rose to €533,6 mn compared with €205,5 mn in January 2018.
“Total imports in January 2019 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €298,0 mn compared with €70,0 mn in January 2018. Total exports in January 2019 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €409,0 mn compared with €20,4 mn in January 2018”, said Cystat.
It added that exports of domestically produced goods, including stores and provisions in January 2019 stood at €75,4 mn compared with €116,0 mn in January 2018 whereas exports of foreign goods, including stores and provisions, in the first month of 2019 were €458,2 mn compared with €89,5 mn in the same month of 2018.
Total domestic exports of industrial products in January 2019 were €66,5 mn compared with €106,0 mn in January 2018 and total domestic exports of agricultural products in January 2019 were €6,4 mn compared with €8,0 mn in January 2018.