Cyprus Mail
Business

Trade deficit widens in Q1

Cyprus’ trade deficit for the period of January – April 2014 reached €1.1 billion in the first quarter, a €0.1 billion year-on-year rise, the European Union statistical service Eurostat said.

Cyprus’ total exports in the first five months of the year reached €500 million, down by 12 per cent compared with January – April 2014, whereas total imports reached €1.5 billion, the same as January – April 2013.

The EU registered a trade surplus of €32.1 billion in trade surplus with the US, whereas trade with the China and Russia recorded a deficit of €41.3 billion and €30.8 respectively.

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