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12° Nicosia,
25 May, 2022
 

Trade deficit at €429 million in February and €729 million in March

According to preliminary data published by CyStat

Source: CNA

The trade deficit in February amounted to €429 million, according to the final data on the month's trade published by the Statistical Service on Tuesday. Additionally, preliminary data from the Statistical Service show that the trade deficit for March 2022 reached €729 million.

Total imports of goods from EU Member States and from third countries amounted to €727.6 mn in February 2022, as compared to €744.2 mn in February 2021, recording a decrease of 2,2%.

Exports of domestically produced products in February 2022 were €151.3 mn as compared to €110.2 mn in February 2021, recording an increase of 37.3%.

Domestic exports of industrial products in February 2022 were €142.1 mn compared to €102.1 mn in February 2021, whilst domestic exports of agricultural products in February 2022 were €8.1 mn compared to €6.9 mn last year.

Exports of foreign products in February 2022 were €147.3 mn as compared to €69.2 mn in February 2021, recording an increase of 112.9%.

In addition, preliminary data on March foreign trade were released on Tuesday.

According to the reports, total imports of goods were €998.1 mn as compared to €596.5 mn in March 2021, recording an increase of 67.3%.

Imports from other EU Member States in March 2022 were €594.7 mn and from third countries €403.5 mn, compared to €413.5 mn and €183 mn respectively in March 2021. Imports in March 2022 include the transfer of ownership of mobile transport equipment (vessels) totaling to €159.2 mn as compared to €27.7 mn in March 2021.

On the other hand, total exports of goods in March 2022 were €268.6 mn as compared to €223.4 mn in March 2021, recording an increase of 20.3%. Exports to other EU Member States in March 2022 were €82.6 mn and to third countries €186 mn, compared to €70.2 mn and €153.1 mn respectively in March 2021. Exports in March 2022 include the transfer of ownership of mobile transport equipment (vessels and aircrafts), with total value of €29.9 mn as compared to €45.4 mn in March 2021.

Total imports of goods from EU Member States and from third countries in January – March 2022 amounted to €2,474.2 mn as compared to €1,931.3 mn in January – March 2021, recording an increase of 28,1%.

Total exports of goods to EU Member States and to third countries in January – March 2022 were €789.7 mn compared to €559 mn in January – March 2021, registering an increase of 41.3%. The trade deficit was €1,684.5 mn in January – March 2022 compared to €1,372.3 mn in the corresponding period of 2021.

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Cyprus  |  economy  |  inflation

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