Cyprus Business Now

Information reported by the Cyprus Statistical Service (Cystat) shows a change in the country’s trade balance for January to November 2023, indicating a considerable increase in the deficit by €962.3 million compared to the same period in 2022.

Goods brought into the country during the eleven months of 2023 rose to €11,896.6m, showing a strong 12.0 per cent increase from the previous year’s €10,622.7m. On the flip side, the total value of goods leaving the country during the same period increased by 8.6 per cent, reaching €3,927.1m compared to €3,615.5m in 2022.

The trade deficit for January to November 2023 expanded to €7,969.5m, showing a significant increase from the €7,007.2m recorded in the same period of 2022.

Breaking down the specific data for November 2023, the total value of goods imported was €1,057.6m, marking a 3.0 per cent increase from the €1,026.7m reported in November 2022. Imports from other EU Member States were €603.3m, while those from third countries were €454.4m. Notably, these figures include the change of ownership of mobile transport equipment, totalling €119.5m, down from €161.9m in November 2022.

At the same time, total exports of goods for November 2023 reached €379.5m, marking a 9.2 per cent increase from the €347.5m recorded in November 2022. Exports to other EU Member States amounted to €88.1m, while exports to third countries totaled €291.5m. November’s export data also includes the change of ownership of mobile transport equipment, amounting to €47.2m, significantly lower than the €161.3m recorded in the same month of 2022.

In October 2023, total goods imports increased by 9.4 per cent to €1,029.0m compared to €940.4m in October 2022. Exports of goods produced within the country, including ship and aircraft supplies, increased slightly by 0.9 per cent to €165.1m. In contrast, exports of foreign products, including ship and aircraft supplies, saw a significant decline of 54.9 per cent, dropping from €254.4m in October 2022 to €114.8m in October 2023.

The CSE opens a window to the digital world

The Cyprus Stock Exchange (CSE), synchronising with the new trends of the digital age, proceeded to create accounts on social media.

The accounts of the CSE concern LinkedIn, Facebook and Instagram, under the name Cyprus Stock Exchange.  Specifically, the digital channels of the CSE are the following:

https://www.linkedin.com/company/the-cyprus-stock-exchange/

https://www.instagram.com/cyprus.stock.exchange/

https://www.facebook.com/profile.php?id=61554183698255

Through this initiative, the CSE aims to boost the visibility of its services and activities on digital platforms widely used by social media users.

As a guide in Cyprus for incorporating modern infrastructure and technology, the CSE will continue the technological upgrade across all its operations, acknowledging technology as a fundamental factor in business activity.

Those interested in the CSE’s activities can find information on the relevant accounts mentioned above. The Stock Exchange will review positive comments and suggestions, carrying out continuous upgrades and modernisation efforts to offer market participants the best possible information and service.

On Tuesday, January 9, the Cyprus Stock Exchange (CSE) witnessed increase, with the General Index showing gains of 0.35 per cent and closing at 136.37 points.

Simultaneously, the FTSE/CySE 20 Index rose by 0.34 per cent, reaching a closing point of 82.78. The Main Market Index experienced an increase of 0.38 per cent, while the Alternative Market Index saw a rise of 0.12 per cent.

Notably, the Bank of Cyprus attracted significant investment interest, marking an increase of 0.89 per cent. Meanwhile, Hellenic Bank shows a slight decrease of 0.45 per cent, while LOGICOM remained unchanged.

Demetra Investments and PETROLINA both showed stability with no changes. Among the shares traded, seven showed upward movement, five declined, and four remained unchanged. Concurrently, the Cyprus Stock Exchange reported a reduction in the issued share capital of Regallia Holdings & Investments Public Ltd, decreasing from €1,822,214.25 to €202,468.25.