Cyprus’ trade deficit declined to €4.98 billion from January to August 2024, registering an annual reduction of 18.5% compared with €6.12 billion in the respective period of last year.
According to provisional data released by Cystat, total imports for January – August 2024 declined by 15.5% to €7.57 billion compared to €8.96 billion in the respective period of last year.
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Total exports of goods in January-August 2024 amounted to €2.59 billion compared to €2.84 billion in January-August 2023, registering a decrease of 9%.
In August, total imports stood at €948.6 million as compared to €1.243,1m in August 2023, recording a decrease of 23%.
Imports from other EU Member States were €564.8m and from third countries €383.8m, compared to €692.4m and €550.7m respectively in August 2023.
Imports in August 2024 include the transfer of economic ownership of vessels and aircraft, with a total value of €38.8m as compared to €246.7m in August 2023.
According to Cystat, total exports of goods in August 2024 were €276.4m as compared to €422.8m in August 2023, recording a decrease of 34.6%.
Exports to other EU Member States were €70m and to third countries €206.4m, compared to €79.1m and €343.7m respectively in August 2023.