Exports from Cyprus decreased by forty per cent for January and February 2020 in comparison with last year, Eurostat data published on Monday showed.
Exports of goods reached €0.4 billion for the two month period, €0.1 billion less to the EU €0.3 billion with the rest of the world.
Meanwhile, imports amounted to €1.5 billion, a six per cent increase (€0.8 billion from the EU and €0.6 billion with the rest of the world).
As a result, Cyprus recorded a trade deficit of -€1.0 billion.
In the EU, from January to February 2020 extra-EU exports of goods rose to €337.0 billion (an increase of 0.7 per cent) and imports fell to €316.8 billion (a decrease of 1.6 per cent).
As a result, the EU recorded a surplus of €20.2 billion, compared with +€13.0 billion in January-February 2019. Intra-EU trade rose to €510.2 billion in January-February 2020, +0.4 per cent compared with January-February 2019.
The Euro area and the EU27 recorded trade surpluses of €23.0 billion and €22.4 billion respectively, for February 2020, according to data released by Eurostat the statistical service of the EU.