12.07.2022
The trade deficit of Cyprus reached 2.96 billion euros for the period from January to May 2022, according to preliminary data published by the Statistical Office of Cyprus (Cystat) on Monday.
This represents an increase of approximately 300 million euros, with a trade deficit of 2.26 billion euros in the corresponding period in 2021.
Total imports of goods from both EU Member States and third countries for the above period amounted to 4.47 billion euros, compared to 3.29 billion euros for the same period in 2021, reflecting an increase of 35.9%.
Total exports of goods both within and outside the EU between January and May 2022 reached 1.5 billion euros, compared to 1.02 billion euros in the corresponding period of the previous year, representing an increase of 46.7%.
In addition, total merchandise imports reached €1.15 billion in May 2022, up from €668.1 million in May 2021, an increase of 72.9%.
Imports from other EU Member States reached €678.4 million in May 2022 and imports from third countries reached €476.6 million, compared to €483.6 million and €184.5 million respectively in May 2021.
Imports in May 2022 include the transfer of economic ownership of ships and aircraft, with the total value of this category reaching €196.8 million compared to €77.6 million in May 2021.
The total export of goods from Cyprus in May 2022 amounted to 418 million euros, compared to 227.3 million euros in May 2021, an increase of 83.9%.
Exports to other EU Member States reached 103.6 million euros in May 2022, while exports to third countries amounted to 314.4 million euros, compared to 70.9 million euros and 156.4 million euros, respectively, in the same month of the previous year .
Exports in May 2022 include transfers of economic ownership of ships and aircraft totaling €95.1 million , compared to €21 million in May 2021.
In addition, the Cyprus Statistical Office has announced the release of the final data on Cyprus Foreign Trade Indicators for April 2022.
According to the report, total imports of goods from both EU Member States and third countries reached 843.1 million euros in April 2022, compared to 694.8 million euros in April 2021, representing an increase of 21.3% .
Exports of domestically produced products, including supplies and provisions, reached 136.2 million euros in April 2022, compared to 146.5 million euros in April 2021, recording a fall of 7%.
Domestic exports of industrial products reached 120.1 million euros in April 2022, compared to 135.5 million euros in April 2021.
In addition, domestic exports of agricultural products reached 13 million euros in April 2022, compared to 9.7 million euros in April 2021.
Exports of foreign goods, including supplies and provisions, reached 147.1 million euros in April 2022 compared to 95.6 million euros in April 2021, an increase of 53.9%.
