Cyprus trade deficit at €540 million in February, according to preliminary data

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trade

Cyprus external trade deficit amounted to €540 million, according to preliminary estimates published by Cyprus’ Statistical Service.
 
According to Cystat’s preliminary estimates for the foreign trade of Cyprus in February 2020, total imports rose by 34.6% and amounted to €759 mn compared to €563.8 mn in February 2019.
 
Imports from other EU Member States in February 2020 reached €383.1 mn and from third countries €375.9 mn compared to €369.8 mn and €194.0 mn respectively in February 2019.
 
Total exports in February 2020 amounted to €219.3 mn as compared to €187.8 mn in February 2019, recording an increase of 16.8%, Cystat added.
 
Exports to other EU Member States in February 2020 were €76 mn and to third countries €143.3 mn compared to €63.9 mn and €123.9 mn respectively in February 2019.
 
According to Cystat, imports in February 2020 included the transfer of economic ownership of mobile transport equipment (vessels), with total value of €221.4 mn as compared to €38.8 mn in February 2019.
 
Furthermore, exports in February 2020 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €56.7 mn compared to €41.9 mn in February 2019.

Source: CNA