Cyprus trade deficit declines by 12.5%

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Cyprus’s trade deficit declined 12.5% ​​between January and July 2020, continuing the downward trend driven by the epidemiological crisis. 

 According to preliminary figures released by the Cyprus Statistical Office (Cystat), the trade deficit for January-July 2020 was € 2,529.4 million in January-July 2020, up from € 2,891.3 million in the corresponding period in 2019.

 Total imports for January – July 2020 from the EU Member States and from third countries amounted to 4283.2 million euros, compared to 4853 million euros in January-July 2019, which means a decrease of 11.7%.

 Total merchandise exports to EU member states and third countries in January-July 2020 amounted to € 1,753.8 million, compared to € 1,961.7 million in January-July 2019, a decrease of 10.6% …

 In July, total imports of goods amounted to 618.4 million euros, compared with 732.3 million euros in July 2019, which means a decrease of 15.6%.

 Imports from other EU member states in July 2020 amounted to 432.4 million euros, and from third countries – 186.1 million euros, compared with 448.8 million euros and 283.6 million euros, respectively, in July 2019.

 The July 2020 imports include the transfer of ownership of mobile transport equipment (ships) totaling € 42.6 million, up from € 42.4 million in July 2019, Cystat reported.

 Total merchandise exports in July 2020 were € 209.6 million, up from € 250.7 million in July 2019, a decrease of 16.4%.

 Exports to other EU member states in July 2020 amounted to € 61.1 million, and to third countries € 148.5 million, compared to € 95.4 million and € 155.2 million in July 2019.

 Exports in July 2020 include the transfer of ownership of mobile transport equipment (ships) totaling € 33.4 million, up from € 33.5 million in July 2019.