Cyprus' foreign trade registered a significant increase in the first ten months of 2022, according to data released on Monday by the Statistical Service of Cyprus. The trade deficit also increased due to the great increase in imports.
In particular, according to the official data, total imports of goods in January-October 2022 amounted to €9,394.7 mn as compared to €6,991.0 mn in January-October 2021, recording an increase of 34.4%. Total exports of goods in January-October 2022 were €3,241.3 mn compared to €2,652.4 mn in the same period of 2021, registering an increase of 22.2%.
The trade deficit was €6,153.4 mn in January-October 2022 compared to €4,338.6 mn in the corresponding period of 2021.
The European Union was the main source of supply of goods to Cyprus with a share of €5,675.4 mn of total imports, while imports from all other European countries totaled €881.7 mn in January-October 2022. Imports from the rest of the world amounted to €2,837.6 mn.
Exports to the European Union accounted for €923.5 mn, while exports to all other European countries for €305.5 mn in January-October 2022. Exports to the rest of the world amounted to €2,012.3 mn.