Total imports of goods for the period January–February 2023 were €2,474.3 million compared to €1,487.4 million for the period January–February 2022, noting an increase of 66.3%
By almost €1 billion, the deficit in the trade balance of Cyprus increased in the two months of January – February, compared to the corresponding two months last year, due to the impressive increase of 66.3% in imports and mainly the increase in imports in January this year by 127%, according to the data published on Monday by the Statistical Service.
Specifically, according to the report of the Statistical Service, the trade balance deficit was €1,927.7 million for the period January-February 2023, compared to €964.1 million in the corresponding period of 2022. This is the highest, historically, trade deficit for the two months of January – February.
Total imports of goods for the period January–February 2023 were €2,474.3 million compared to €1,487.4 million for the period January–February 2022, an increase of 66.3%.
The total exports of goods for the period January–February 2023 were €546.6m compared to €523.3m for the period January–February 2022, an increase of 4.5%.
Furthermore, the trade deficit in February 2023 amounted to €530.9 million, compared to a deficit of €435.37 million in February 2022.
Total imports of goods in February 2023 were €762.0m compared to €736.3m in February 2022, registering an increase of 3.5%.
Imports from other EU Member States were €527.1m and from third countries €234.9m compared to €461.4m and €274.8m respectively in February 2022.
Imports in February 2023 include the transfer of financial ownership of mobile transport equipment (ships), total value €56.8 million compared to €64.5 million in February 2022.
Furthermore, total exports of goods in February 2023 were €231.1m compared to €300.9m in February 2022, a decrease of 23.2%. Exports to other EU Member States were €62.7m and to third countries €168.3m, compared to €68.8m and €232.1m respectively in February 2022.
Exports in February 2023 include the transfer of economic property of mobile transport equipment (ships), with a total value of €60.2 million compared to €70.6 million in February 2022.
Moreover, according to final data for January 2023, total goods imports jumped to €1,712.3 million, compared to €751.2 million in January 2022, marking an increase of 127.9%.
Total exports amounted in January 2023 to €315.55 million, compared to €222.39 million.
Specifically, according to the Statistical Service, exports of domestically produced products, including of ship and aircraft supplies, for January 2023 was €140.1m compared to €101.3m in January 2022, recording an increase of 38.3%.
The value of exports of manufactured goods for in January 2023 amounted to €132.0 million compared to €93.5 million in January 2022, while the value of agricultural exports for January 2023 amounted to €7.3 million compared to €6.7 million. in January 2022.
Exports of foreign products, including ship and aircraft supplies, for January 2023 were €175.5m compared to €121.1m in January 2022, an increase of 44 ,9%.