Cyprus Mail

Trade deficit widens in January to €318m

Cyprus’s trade deficit widened 44 per cent in January to €317.9m compared with the respective month of 2016, the statistical service said.

The wider trade shortfall in January, the month before private sector companies assumed responsibility for the commercial operations of Cyprus’s main port in Limassol, which led to chaos, was mainly on increased imports that rose an annual 46 per cent to €483.2m, Cystat said in a statement on its website on Monday. Exports rose by €55.2m to €165.2m. January imports include a total of €28.3m in aircraft.

Imports from European Union countries rose 21 per cent to €293.9m in January compared with January last year while exports fell 2.1 per cent to €53.3m, Cystat said. Imports from third countries rose 114 per cent to €189.2m while exports rose 102 per cent to €112m.

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