Trade deficit accelerates to €3.55 billion

Cyprus trade deficit accelerated to €3,548 million for the period January – Augusta 2021 provisional data published by the Statistical Service of Cyprus (Cystat) show.

According to Cystat, total imports of goods (from EU Member States and from third countries) in January – August 2021 amounted to €5,480.4 million as compared to €4,821.1 mn in January – August 2020, recording an increase of 13.7%.

Total exports of goods (to EU Member States and to third countries) in January – August 2021 were €1,931.9 mn compared to €1,959.2 mn in January – August 2020, registering a decrease of 1.4%.

In August 2021, total imports of goods amounted €665.8 million as compared to €496.9 mn in August 2020, recording an increase of 34%. Imports from other EU Member States in August 2021 were €440.2 mn and from third countries €225.5 mn, compared to €333.2 mn and €163.7 mn respectively in August 2020. Imports in August 2021 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €90,1 mn as compared to €30,3 mn in August 2020.

Total exports of goods in August 2021 were €283 mn as compared to €199.8 mn in August 2020, recording an increase of 41,6%.

Exports to other EU Member States in August 2021 were €52.8 mn and to third countries €230.2 mn, compared to €58.1 mn and €141.7 mn respectively in August 2020.

Exports in August 2021 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €96.3 mn as compared to €44.6 mn in August 2020.