Cyprus: Trade deficit down January-August 2020 yoy

Cyprus: Trade deficit down January-August 2020 yoy

Foreign Trade Statistics, July 2020

Total imports of goods (from EU Member States and from third countries) amounted to €625,9 mm in July 2020 as compared to €726,6 mm in July 2019, recording a decrease of 13,9%.

Exports of domestically produced products, including stores and provisions, in July 2020 were €128,6 mm as compared to €133,2 mm in July 2019, recording a decrease of 3,5%. Domestic exports of industrial products in July 2020 were €122,1 mm compared to €125,7 mm in July 2019, whilst domestic exports of agricultural products in July 2020 were €5,4 mm compared to €5,9 mm in July 2019.

Exports of foreign products, including stores and provisions, in July 2020 were €83,8 mm as compared to €114,8 mm in July 2019, recording a decrease of 27,0%.

The data are included in the monthly electronic publication “Intra & Extra EU Trade Statistics (Summarised Data)” for July 2020, which is available free of charge from the website of the Statistical Service, under the section “Publications” in the statistical theme Foreign Trade.

Foreign Trade Statistics, August 2020

On the basis of provisional data, the main developments in the foreign trade of Cyprus in August 2020 can be summarized as follows:

Total imports of goods were €489,4 mm as compared to €611,2 mm in August 2019, recording a decrease of 19,9%. Imports from other EU Member States in August 2020 were €333,9 mm and from third countries €155,5 mm, compared to €357,1 mm and €254,1 mm respectively in August 2019. Imports in August 2020 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €30,3 mm as compared to €82,5 mm in August 2019.

Total exports of goods in August 2020 were €197,1 mm as compared to €230,6 mm in August 2019, recording a decrease of 14,5%. Exports to other EU Member States in August 2020 were €55,8 mm and to third countries €141,3 mm, compared to €50,8 mm and €179,8 mm respectively in August 2019. Exports in August 2020 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €43,2 mm as compared to €86,3 mm in August 2019.

Total imports of goods (from EU Member States and from third countries) in January – August 2020 amounted to €4.774,3 mm as compared to €5.438,4 mm in January – August 2019, recording a decrease of 12,2%. Total exports of goods (to EU Member States and to third countries) in January – August 2020 were €1.952,9 mm compared to €2.190,2 mm in January – August 2019, registering a decrease of 10,8%. The trade deficit was €2.821,4 mm in January – August 2020 compared to €3.248,3 mm in the corresponding period of 2019./ibna