Insider / ΚΥΠΕ
The Foreign Trade of Cyprus started to increase, both in November 2021 and in December 2021, according to the data collected and published by the Statistical Service of Cyprus, while the overall indicators for the whole of 2021 show an increase (January – December).
The final data published for November 2021, report a significant increase of 354.1% in exports of foreign products, including ship and aircraft supplies, which reached € 223.4 million.
Significant increase was recorded in the same month in exports of domestically produced products, including ship and aircraft supplies (47.4%.), After reaching € 145.2 million. The value of exports of industrial products increased by 49.2% (€ 137.5 million), while the value of agricultural exports increased by 3.7% (€ 5.9 million).
Regarding the imports of goods for November 2021 (from EU Member States and from third countries), an increase of 33.4% was recorded, with the amount reaching € 924.6 million.
Preliminary data released on the Foreign Trade movement for December 2021, also show an increase in total exports of goods by 75.3%, reaching € 334.1 million.
Exports to third countries increased the most (€ 273.2 million compared to € 131.8 million in the corresponding month of the previous year) while exports to EU Member States reached € 60.9 million compared to € 58. 8 million respectively. Exports in December 2021 include the transfer of financial ownership of mobile transport equipment (ships), with a total value of € 158.0 million compared to € 43.0 million in December 2020.
On the contrary, according to the same data, there was a decrease of 3% in total imports of goods (from € 713.5 million to € 692.5 million) in December 2020. This decrease, as the data show, is due to to a large reduction in the transfer of financial ownership of mobile transport equipment (ships), from € 120.4 million in December 2020 to € 12.4 million in the corresponding month of 2021.
Imports from third countries also decreased, amounting to € 267.0 million, compared to € 316.5 million in the corresponding month of 2020. On the other hand, imports from EU Member States in December 2021 amounted to at € 425.5 million (compared to € 397.0 million respectively).
Finally, data for the whole of 2021 (January – December) show an increase of 10.8% in total imports of goods (from EU Member States and third countries), reaching € 8,468.1 million (compared to € 7,642, 1 million for 2020). An increase of 19.4% was also recorded in total exports of goods, reaching € 3,279.9 million, compared to € 2,746.6 million for 2020. The trade deficit was € 5,188.2 million for in the period January – December 2021 compared to € 4,895.5 million in the corresponding period of 2020.