Trade deficit drops to €2.2 billion

The trade deficit fell by 14.4% to €2.2 billion in the first seven months of this year down from nearly €2.6 billion at the same period last year, data released by the Cyprus Statistical Service, on Monday, show.

According to the data total imports in January - July 2018 amounted to €5,230.6 mn as compared to €4,402.9 mn in January - July 2017.

On the other hand, total exports, covering total exports to third countries and EU member states, in January - July 2018 were €3,009.7 mn compared to €1,807.5 mn in January - July 2017.

The trade deficit was €2.220,9 mn in January-July 2018 compared to €2.595,4 mn at the same period of 2017.

According to the data total exports of domestically produced goods, excluding stores and provisions, in January - July 2018 were €929.8 mn compared to €727.6 mn in January - July 2017.

Total domestic exports of industrial products in January - July 2018 were €857.4 mn compared to €643.6 mn in January - July 2017.

Total domestic exports of agricultural products in January - July 2018 were €66.2 mn compared to €72.5 mn in January - July 2017.