Cyprus: Cystat announces 21% drop in exports in January-March 2020

Cyprus: Cystat announces 21% drop in exports in January-March 2020

The Statistical Service of Cyprus published the monthly electronic publication “Intra & Extra EU Trade Statistics (by commodity and country)” for January – March 2020. It includes detailed quantity and value data on imports and exports of domestically produced goods and foreign goods, classified at the six – digit commodity code level and by partner country.

The main developments in Cyprus foreign trade were:

(a)   Total imports of goods (from EU Member States and from third countries) in January – March 2020 amounted to €2.108,4 million as compared to €1.990,0 million in January – March 2019, recording an increase of 6,0%. Total exports of goods (to EU Member States and to third countries) in January – March 2020 were €742,9 million compared to €940,3 million in January – March 2019, registering a decrease of 21,0%. The trade deficit was €1.365,5 million in January – March 2020 compared to €1.049,6 million in the corresponding period of 2019.

(b)  The European Union was the main source of supply of goods to Cyprus with a share of €1.142,6 million of total imports, while imports from all other European countries totaled €279,8 million in January – March 2020. Imports from the rest of the world amounted to €686,0 million in January – March 2020.

(c) Exports to the European Union accounted for € 188,5 million, while exports to all other European countries for €79,4 mn in January – March 2020. Exports to the rest of the world amounted to €475,1 million in January – March 2020. /ibna