Trade deficit up by 38.9% in January-November 2022

The trade deficit increased by 38.9% for the period January-November 2022, reaching €6,816.1 million compared to €4,906.1 million in the corresponding period of 2021. In the same period there was an annual increase of 31.2 % in imports and 18.7% in exports, according to data published by the Cyprus Statistical Service on Monday.

Total imports of goods in January-November 2022 amounted to €10,403.2 mn compared to €7,928.1 mn in January-November 2021, recording an increase of 31.2%. Total exports of goods in January-November 2022 were €3,587.1 mn compared to €3,022 mn in the same period of 2021, registering an increase of 18.7%.

The European Union was the main source of supply of goods to Cyprus with a share of €6,275.8 mn of total imports, while imports from all other European countries totaled €966.8 mn in January-November 2022. Imports from the rest of the world amounted to €3,160.6 mn.

Exports to the European Union accounted for €1,000.1 mn, while exports to all other European countries for €358.1 mn in January- November 2022. Exports to the rest of the world amounted to €2,228.9 mn.