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ECONOMY

Trade Deficit Decreases by €314 million in 2018

Trade Deficit Decreases by €314 million in 2018

Trade deficit in the period January - August 2018 decreased by €314 million compared to the corresponding period of 2017.

According to a publication by the Statistical Service of Cyprus trade deficit was €2,649.8 mn in January-August 2018 compared to €2,963.8 mn in the corresponding period of 2017.

Total imports (covering total imports from third countries and from EU Member States) in January-August 2018 amounted to €5,923.7 mn as compared to €5,025.6 mn in January-August 2017. Total exports (covering total exports to third countries and to EU Member States) in January-August 2018 were €3,273.9 mn compared to €2,061.8 mn in January-August 2017.

During August 2018 total imports (covering total imports from third countries and from EU Member States) valued at €628.4 mn as compared to €622.7 mn in August 2017.

Total exports (covering total exports to third countries and to EU Member States), including stores and provisions, in August 2018 amounted to €264.2 mn as compared to €254.3 mn in August 2017. Exports of domestically produced goods, including stores and provisions in August 2018 were €174.2 mn as compared to €88.3 mn in August 2017 whilst exports of foreign goods, including stores and provisions, in August 2018 were €89.9 mn as compared to €166.1 mn in August 2017. Total domestic exports of industrial products in August 2018 were €167.6 mn compared to €81.8 mn in August 2017. Total domestic exports of agricultural products in August 2018 were €5.0 mn compared to €4.3 mn in August 2017.

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