Τrade deficit widens to €199.6 million in 2019

Cyprus trade deficit widened by €199.6 million in 2019 on an annual basis, according to the publication “Intra-Extra EU Trade Statistics (Summarised Data)” released Tuesday by the Statistical Service of Cyprus.

The trade deficit was €5,089.7 mn in January-December 2019 compared to €4,890.1 mn in the corresponding period of 2018.

Total imports (covering total imports from third countries and from EU member states) in January-December 2019 amounted to €8,235.9 mn as compared to €9,200.0 mn in January-December 2018. Total exports (covering total exports to third countries and to EU Member States) in January-December 2019 were €3,146.2 mn compared to €4,309.9 mn in January-December 2018.

Total imports in January-December 2019 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €1,094.5 mn as compared to €1,875.1 mn in January-December 2018. Total exports in January-December 2019 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €995.2 mn as compared to €1,455.6 mn in January-December 2018.

During December 2019, total imports (covering total imports from third countries and from EU Member States) valued at €691.6 mn as compared to €858.4 mn in December 2018.

Total exports (covering total exports to third countries and to EU Member States), including stores and provisions, in December 2019 amounted to €253.7 mn as compared to €167.5 mn in December 2018. Exports of domestically produced goods, including stores and provisions in December 2019 were €93.1 mn as compared to €92.2mn in December 2018 whilst exports of foreign goods, including stores and provisions, in December 2019 were €160.6 mn as compared to €75.3 mn in December 2018.

Total domestic exports of industrial products in December 2019 were €83.8 mn compared to €84.6 mn in December 2018. Total domestic exports of agricultural products in December 2019 were €6.9 mn compared to €5.1 mn in December 2018.