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January to April trade deficit narrows to €1.3bn

Cyprus’s trade deficit in the first four months of the year narrowed by €337.8m to €1.3bn or 25 per cent compared to the respective period last year mainly on increased exports, the statistical service said.

Total exports rose in January to April 49 per cent to €1.6bn while total imports rose 15 per cent to €2.9bn compared to the respective period last year, Cystat said in a statement on its website.

Exports to other European Union members rose in January to April an annual 6.1 per cent to €357.6m while imports from the EU rose 9.5 per cent to €1.7bn, Cystat said. Exports to third countries rose 62 per cent to €1.2bn and exports rose 23 per cent to €1.3bn.

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