CYPRUS: Jan-March trade deficit at €730 mln

The trade deficit in March reached EUR 264.9 mln in March, according to preliminary results from the Statistical Service Cystat. Thus, the first quarter cumulative deficit is at EUR 730.6 mln, considering the EUR 465.7 mln deficit reported in the first two months of the year.

 
Cystat said that preliminary estimates showed total imports / arrivals were EUR 407.5 mln in March, of which EUR 295.1 mln were arrivals from other EU member states and EUR 112.4 mln were imports from third countries.
Total exports/dispatches during the month reached EUR 142.6 mln, of which EUR 61.9 mln were dispatches to other EU member states and EUR 80.7 mln exports to third countries.
The year-on-year trade deficit for the first quarter is 14% down, with exports in the first three months of this year falling by 30% to EUR 369.6 mln.
The trade deficit for the January-February period was EUR 465.7 mln, compared to EUR 368.4 mln in the corresponding period of 2015, according to Cystat. Total imports had dropped to EUR 692.6 mln compared to EUR 734.2 mln in January-February 2015, while total exports in January-February tumbled to EUR 227 mln, from EUR 365.8 mln the year before.
The trade deficit started widening from January, when exports took a downward path and imports fell at a slower pace.