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Cyprus sees dramatic decline in exports and imports

In April and May, Cyprus saw a dramatic decline in imports and exports, according to data from the Statistical Service of Cyprus released on Friday.

The trade deficit widened to €1.726,6 mn in January – May 2020 compared with €1.865,8 mn in the same period of the previous year.

In April 2020,  goods (from EU Member States and from third countries) amounted to €418,3 mn as compared with €628,3 mn in April 2019, a decrease of 33.4 per cent.

In May, total imports of goods were €462.3 mn as compared with €726,8 mn for the same month in the previous year — this is a decrease of 36,4 percent.

Imports from other EU Member States in May 2020 were €298.3 mn and from third countries €164.0 mn, compared with €416.3 mn and €310.5 mn respectively in May 2019.

Exports of domestically produced products, including stores and provisions, in April 2020 were €90,3 mn as compared with €128,3 mn in April 2019,  a decrease of 29.6 per cent. Domestic exports of industrial products in April 2020 were €77,8 mn compared with €112,4 mn in April 2019, while domestic exports of agricultural products in April 2020 were €11,2 mn compared with €13,8 mn in April 2019.

In May, exports of goods in were €273.9 mn as compared with €294.3 mn in May 2019, a decrease of 6.9 per cent. Exports to other EU Member States in May 2020 were €66.3 mn and to third countries €207.6 mn, compared with €86.1 mn and €208.2 mn respectively in May 2019.

Data are final on the foreign trade of Cyprus for April 2020 and provisional data for May 2020.

 

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