Cyprus’ trade deficit increased by 38.9 per cent between January and November 2022, reaching €6.8 billion compared to €4.9 billion in the corresponding period of 2021, according to a report released this week by the Cyprus Statistical Service (Cystat).

In addition, during the same period, Cyprus’ imports registered an increase of 31.2 per cent year-on-year, while exports rose by 18.7 per cent, also on annual basis.

According to the report, Cyprus’ total imports of goods for the period between January and November 2022 reached €10.4 billion, compared to €7.9 billion for the same period during the previous year, marking an increase of 31.2 per cent.

Furthermore, the total exports of goods for the same period amounted to €3.5 billion compared to €3 billion for the same period in 2021, reflecting an increase of 18.7 per cent.

What is more, according to the Statistical Service, the European Union was the main source of supply of goods to Cyprus with a share of €6.27 billion in total imports, while imports from the rest of the European countries amounted to €966.8 million, both in terms of the period between January and November 2022.

Meanwhile, imports from the rest of the world amounted to €3.16 billion.

Exports to the European Union during the same period of time amounted to €1 billion, while exports to the rest of European countries reached €358.1 million.

Finally, Cyprus’ exports to the rest of the world amounted to €2.22 billion.

The Transport and Storage Turnover Index in Cyprus increased by 41.1 per cent year-on-year between January and December 2022, with the largest increase of 439 per cent being observed in air transport, according to data published this week by the Cyprus Statistical Service (Cystat).

In addition, during the fourth quarter of 2022, the Transportation and Storage Turnover Index increased by 30.3 per cent, compared to the corresponding quarter of 2021, reaching 134.5 points, with 2015 being used as the base year, in other words, the time in which the index was at exactly 100 points.

In terms of each distinct economic activity, air transport increased by 576.1 per cent year-on-year during the fourth quarter of 2022, while storage and transport support activities rose by 22.5 per cent year.

Further to the above, land transport increased by 18.3 per cent, water transport rose by 5.5 per cent, while postal and courier activities recorded a decrease of 5.1 per cent.

The Cyprus Stock Exchange (CSE) ended Tuesday, February 21 with profits, in what has been a particularly positive period for the market in Cyprus.

The general Cyprus Stock Market Index was at 113.46 points at 13:27 during the day, reflecting an increase of 4.86 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 68.62 points, representing a rise of 4.92 per cent.

The total value of transactions came up to €42,726.

In terms of the sub-indexes, the main, alternative, investment firm and hotel indexes rose by 6.08 per cent, 0.11 per cent, 4.17 per cent and 0.72 per cent respectively.

The biggest investment interest was attracted by the Bank of Cyprus (+10.84 per cent), Hellenic Bank (+5.08 per cent), Logicom (+0.97 per cent), Demetra Holdings (+5.31 per cent), and Salamis Tours (+0.57 per cent).