Rising exports push Cyprus’ trade deficit down

Cyprus’ trade deficit dropped by €320,7 million in the first six months of the year, compared to the same period of 2017, as exports rose by €925,6 million.

The Statistical Service of Cyprus reported on Thursday that the trade deficit was €1.982,3 mn in January-June 2018 compared to €2.303,0 mn in the corresponding period of 2017.

“Total imports in January-June 2018 amounted to €4.403,5 mn as compared to €3.798,6 mn in January-June 2017. Total exports (covering total exports to third countries and to EU Member States) in January-June 2018 were €2.421,2 mn compared to €1.495,6 mn in January-June 2017” said Cystat.

“Total exports of domestically produced goods, excluding stores and provisions, in January - June 2018 were €743,2mn compared to €631,1 mn in January - June 2017. Total domestic exports of industrial products in January - June 2018 were €677,5 mn compared to €553,9 mn in January - June 2017. Total domestic exports of agricultural products in January - June 2018 were €60,5 mn compared to €66,8 mn in January - June 2017” it added.