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Trade deficit at €3.9 billion

18/12/2017 10:30

According to the statistical office of the European Union, Cyprus’ total exports stood at 2.4 billion euro in the same period, increased by 5% compared to last year. Intra EU exports stood at 0.9 billion euro falling by -22% and extra EU exports at 1.5 billion euro increasing by 33%.

Meanwhile imports stood at 6.3 billion, increasing by 13% compared to the same period of the previous year (3.8 billion intra EU, falling by -2% and 2.4 billion extra EU increasing by 48%), resulting in a negative trade balance of -3.9 billion euro (-2.9 with the EU and -0.9 to the rest of the world). 

The euro area recorded a €18.9 bn surplus in trade in goods with the rest of the world in October 2017, while at the same time, Cyprus recorded a negative trade balance of 0.9 bn, according to data released Friday by Eurostat.
 
The first estimate for euro area (EA19) exports of goods to the rest of the world in October 2017 was €187.9 billion, an increase of 8.8% compared with October 2016 (€172.6 bn).
 
Imports from the rest of the world stood at €168.9 bn, a rise of 10.1% compared with October 2016 (€153.4 bn). As a result, the euro area recorded a €18.9 bn surplus in trade in goods with the rest of the world in October 2017, compared with +€19.2 bn in October 2016. Intra-euro area trade rose to €160.0 bn in October 2017, up by 9.7% compared with October 2016.

In January to October 2017, euro area exports of goods to the rest of the world stood at €1 812.6 bn (+7.5% compared with January-October 2016) and imports at €1 624.7 bn (+10.4% compared with January-October 2016). As a result the euro area recorded a surplus of €187.9 bn, compared with +€213.8 bn in January-October 2016. Intra-euro area trade rose to €1 529.3 bn in January-October 2017, up by 7.6% compared with January-October 2016.


The first estimate for extra-EU28 exports of goods in October 2017 was €159.4 billion, up by 8.6% compared with October 2016 (€146.8 bn). Imports from the rest of the world stood at €159.6 bn, up by 10.6% compared with October 2016 (€144.4 bn). As a result, the EU28 recorded a €0.3 bn deficit in trade in goods with the rest of the world in October 2017, compared with a surplus of €2.4 bn in October 2016. Intra-EU28 trade rose to €292.8 bn in October 2017, +10.7% compared with October 2016.

In January to October 2017, extra-EU28 exports of goods stood at €1 549.7 bn (+8.9% compared with the period January-October 2016) and imports at €1 544.5 bn (+9.0% compared with January-October 2016). As a result, the EU28 recorded a surplus of €5.2 bn, compared with +€5.3 bn in January-October 2016. Intra-EU28 trade rose to €2 778.2 bn in January-October 2017, up by 7.5% compared with January-October 2016.