Trade deficit rises to €2.40 bn

Cyprus’ trade deficit reached €2.40 bn in the first half of the year, compared with €1.79 bn in the same period of 2018, according to figures released by the Statistical Service on Monday.
 
Cystat said that on the basis of preliminary estimates for the foreign trade of Cyprus in July 2019, total imports fell to €718,5 mn from €859,5 mn in July 2018. Imports from other EU member states in July 2019 declined to €495,2 mn from €541,1 mn in July 2018. Imports from third countries in July 2019 also fell to €223,3 mn from €318,4 mn in July 2018.
 
Total exports in July 2019 dropped to €246,6 mn compared with €355,4 mn in July 2018. Exports to other EU member states in July 2019 fell to €105,7 mn from €116,0 mn in July 2018. Exports to third countries in July 2019 were down to €140,9 mn from €239,4 mn in the same month last year.
 
Total imports in July 2019 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €42,3 mn compared with €73,9 mn in July 2018. Total exports in July 2019 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €33,5 mn compared with €52,2 mn in July 2018.