Trade deficit rises by 20.4% in January – April 2021

Cyprus trade deficit rose by an annual 20.4% reaching €1.8 billion in January – April 2021, compared with €1.5 billion in the respective period of last year, mainly due to a higher decline in exports.

According to data released by the Statistical Service of Cyprus (Cystat), total imports of goods (from EU Member States and from third countries) in January - April 2021 amounted to €2,600.4 million compared to €2,485.6 million in January - April 2020, recording an increase of 4.6%.
 
Total exports of goods (to EU Member States and to third countries) in January - April 2021 dropped to €797 million, compared to €987.5 million in the same period of 2020, registering a decrease of 19.3%.
 
According to Cystat, the European Union was the main source of supply of goods to Cyprus with a share of €1,630.9 million of total imports, while imports from all other European countries totalled €184.5 million in January - April 2021. Imports from the rest of the world amounted to €785 million.
 
Exports to the European Union accounted for €271.5 million, while exports to all other European countries for €114.5 million in January - April 2021 and exports to the rest of the world amounted to €411 million.