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Cyprus Trade Deficit Increases by 58%

Cyprus Trade Deficit Increases by 58%Cyprus Trade Deficit Increases by 58%

Cyprus’ trade deficit in January 2017 jumped by 58% to €349.8 million ($371.40 million) compared with €220.9 million in the corresponding period of 2016, the Cyprus Statistical Service said Tuesday, CNA reported. According to Cystat, total imports (covering total imports from third countries and arrivals from other EU member-states) in January 2017 amounted to €515.3 million marking an increase of 56% compared with €330.9 million in January last year. Total exports (covering total exports to third countries and dispatches to other EU member-states) in January 2017 increased by 55% reaching €165.5 million compared to €110.0 million in January 2016.

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