Cyprus Mail

Trade deficit widens €3.1bn in September to October

Cyprus’s trade deficit in January to September widened by €600.8m to €3.1bn, or 24 per cent, compared with the respective period of 2015, mainly on imported ships and aircraft, the statistical service said.

Total imports rose in the first nine months of the year an annual 12 per cent, to €4.3bn, which includes transport equipment worth €616m, Cystat said in a statement on its website on Wednesday. Total exports dropped 9.1 per cent to €1.2bn. Last year’s figures included exports of transport equipment worth €158.6m, mainly aircraft.

Exports to European Union countries dropped 21 per cent to €577.2m in January to September compared to the respective period of 20015, Cystat said. Imports rose 18 per cent to €3.3bn.

Exports to third countries rose an annual 4.6 per cent to €652.2m in January to September and dropped 3 per cent to €1.1bn, Cystat said.

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