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ECONOMY: Cyprus trade deficit shrinks by EUR 138 mln in January

11 April, 2019

Cyprus exports grew faster than imports during January, narrowing the island’s trade deficit by €138.8 mln.


Official data shows the trade deficit was €277.6 mln in January 2019 from €416.4 mln in the same month last year.

Total imports in January stood at €811.2 mln compared with €621.9 mln in January 2018, while total exports rose to €533.6 mln compared with €205.5 mln in 2018.

Total imports included the transfer of economic ownership of mobile transport equipment (vessels), with total value of €298 mln from €70 mln.

Total exports in January included the transfer of economic ownership of mobile transport equipment (vessels), with total value of €409 mln from €204 mln in January 2018 last year.

Exports of domestically produced goods, including stores and provisions that stood at €75.4 mln compared with €116 mln in January 2018 whereas exports of foreign goods, including stores and provisions, in the first month of 2019 were €458.2 mln from €89.5 mln.

Total domestic exports of industrial products in January were €66.5 mln compared with €106 mln in January 2018 and total domestic exports of agricultural products were €6.4 mln down from €8 mln.