Cyprus’s trade deficit shrank by €305.9m in 2015 or 8.2 per cent compared to the year before to almost €3.4bn on a strong increase in the value of exports, the statistical service said.
The total value of exports rose 19 per cent last year to €1.7bn compared to 2014, the statistical service said. The value of total imports fell 0.6 per cent to €5.1bn.
Exports to third countries rose 25 per cent in value last year while those to other European Union member states rose 14 per cent to €828.8m and €888.7m respectively, Cystat said. Imports from third countries fell 6 per cent in value to €1.4bn while those from other EU countries rose 1.7 per cent to €3.7bn.