Trade deficit widens in January to €318m, Cystat says

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By Stelios Orphanides

Cyprus’s trade deficit widened 44 per cent in January to €317.9m compared with the respective month of 2016, the statistical service said.

The wider trade shortfall in January, the month before private sector companies assumed responsibility for the commercial operations of Cyprus’s main port in Limassol, which led to chaos, was mainly on increased imports that rose an annual 46 per cent to €483.2m, Cystat said in a statement on its website on Monday. Exports rose by €55.2m to €165.2m. January imports include a total of €28.3m in aircraft.

Imports from European Union countries rose 21 per cent to €293.9m in January compared with January last year while exports fell 2.1 per cent to €53.3m, Cystat said. Imports from third countries rose 114 per cent to €189.2m while exports rose 102 per cent to €112m.

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About Author

Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: stelios@cyprus-mail.com

  • alexander reutersward

    The money from the european investmentbank is now being spent on lyxury goods 😉

  • Philippos

    Some of the volatility in a single month is unbelievable and makes you either doubt the accuracy of the figures or suspect very individual circumstances. either way this is not good for us. When you look at the 3% growth in Q3/2016, so its old news and in the tourist season and may well have evaporated by now, (January). Oh dear I only hope that we can keep the smoke and mirrors going until mid February 2018 for the Presidential elections, or Nik could be history, if he is a candidate of course.