By Stelios Orphanides
The island’s trade deficit widened by €315.2m or 15 per cent in the first six months of the year to €2.4bn, compared with the respective period last year, the statistical service said.
Total imports rose an annual 3.2 per cent to €3.7bn in January to June while total exports dropped 14 per cent to below €1.3bn, Cystat said in a statement on its website on Wednesday.
Excluding the import and export of ships and aircraft, the value of imports in the first six months of the year rose an annual 22 per cent to below €3bn while that of exports rose 31 per cent to over €1bn, Cystat said.
Total imports from other European Union members fell 10 per cent in January to June to €2.3bn and total exports slumped 42 per cent to €502.4m, Cystat said. Total imports from third countries rose 38 per cent to €377.4m and total exports rose 27 per cent to €158.5m.