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12° Nicosia,
03 March, 2021
 

Cyprus records €0.4 billion negative trade balance

Total imports in Cyprus amounted to 0.6 billion euro a -2% decrease

Newsroom / CNA

Cyprus` exports amounted to 0.2 billion euro in January, registering an increase of 17%, according to Eurostat, the statistical service of the European Union. Out of the total amount, 0.1 billion euro went to the EU (a 57% increase) and 100m to the rest of the world (a -2% decrease).

Total imports in Cyprus amounted to 0.6 billion euro (a -2% decrease), out of which, 0.4billion came from the EU (a 18% increase) and 0.2 billion from the rest of the world (a -23% decrease). That resulted in a -0.4bn negative trade balance in January, (stable compared to January 2017), -0.3bn with the EU and -0.1bn with the rest of the world.

According to the first estimate for the euro area (EA19), exports of goods to the rest of the world in January was €178.6 billion, an increase of 9.1% compared with January 2017 (€163.7 bn). Imports from the rest of the world stood at €175.4 bn, a rise of 6.3% compared with January 2017 (€165.0 bn).

As a result, the euro area recorded a €3.3 bn surplus in trade in goods with the rest of the world in January 2018, compared with a deficit of €1.4 bn in January 2017. Intra-euro area trade rose to €159.8 bn in January 2018, up by 8.8% compared with January 2017.

In 2017, euro area exports of goods to the rest of the world rose to €2 194.0 bn (an increase of 7.1% compared with 2016), while imports rose to €1 958.0 bn (an increase of 9.8% compared with 2016). As a result, the euro area recorded a surplus of €236.0 bn, compared with +€265.3 bn in 2016. Intra-euro area trade rose to €1 844.1 bn in 2017, up by 7.6% compared with 2016.

The first estimate for extra-EU28 exports of goods in January was €150.5 billion, up by 6.5%. Imports from the rest of the world stood at €170.8bn, up by 7.6%. As a result, the EU28 recorded a €20.3bn deficit in trade in goods with the rest of the world in January, compared with -€17.4 bn in 2017. Intra-EU28 trade rose to €288.2 bn in January 2018, +9% compared with January 2017.

TAGS
economy  |  trade  |  Cyprus  |  EU

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