Cyprus trade deficit reaches preliminary EUR 6.2 bln in 2008

The Cyprus trade deficit widened to EUR 6,160.2 mln (EUR6.2 bln) in 2008, according to preliminary data for December.

Total exports rose by 7.8% to EUR 1.2 bln while total imports rose by 15.3% to EUR 7.3 bln.


Preliminary estimates for December 2008 reported total imports/ arrivals of EUR 497.5 mln, of which EUR 339.5 mln were arrivals from other member states of the EU, and EUR 158.0 mln were imports from third countries.

Total exports/dispatches reached EUR 92.1 mln, of which EUR 49.5 mln were dispatches to other member states of the EU and EUR 42.6 mln exports to third countries.


Revised data for November, meanwhile, show that the trade deficit was EUR 5,754.8 mln in January-November 2008 compared with EUR 4,831.5 mln in January-November 2007.

The main developments in Cyprus foreign trade in the first 11 months were as follows.


Total imports/arrivals (covering total imports from third countries and arrivals from other member states) in January-November 2008 amounted to EUR 6,829.4 mln compared with EUR 5,836.7 mln in January-November 2007.

Total exports/dispatches (covering total exports to third countries and dispatches to other member states) in January-November 2008 were EUR 1,074.6 mln compared with EUR 1,005.1 mln in January-November 2007.

During November 2008 total imports/arrivals (covering total imports from third countries and arrivals from other member states) were valued at EUR 595.7 mln.


Total exports/dispatches (covering total exports to third countries and dispatches to other member states), including stores and provisions, in November 2008 amounted to EUR 109.7 mln. Εxports/dispatches of domestically produced goods, including stores and provisions, were EUR 58.6 mln, whilst exports/dispatches of foreign goods, including stores and provisions, were EUR 51.1 mln.


The monthly report “Intra-Extra E.U Trade Statistics (Summarized Data)” for November 2008 is available from the Printing Office of the Republic of Cyprus in Nicosia and from the website of the Statistical Service www.mof.gov.cy/cystat.


February 11, 2009 - www.financialmirror.com

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