By Stelios Orphanides
Cyprus’s trade deficit widened last year an annual 17 per cent, or €727.3m, to €5.1bn, the highest since 2010 mainly on increased imports, the statistical service said.
Total imports rose 13 per cent last year to over €8bn, while total exports rose 7 per cent to €2.9bn, Cystat said in a statement on its website on Friday.
Excluding the import and export of transport equipment such as ships and aircraft, total imports and exports rose 17 per cent last year, to €6.1bn, and 19 per cent, to €2.1bn respectively, Cystat said.
Imports from other European Union member states rose 1 per cent in 2017, to €4.7bn, while total exports dropped 18 per cent, to €1.1bn, Cystat added. Imports from third countries rose 36 per cent to, €3.3bn and exports 30 per cent, to €1.8bn.