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October saw a decrease in exports and an increase in imports

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October saw a decrease in exports and an increase in imports

The Statistical Service announces the final data for the foreign trade of Cyprus for October 2020 which show an increase in the gap of the export-import balance in the foreign trade.

The main developments in the foreign trade of Cyprus for October 2020 were:

(a) Total imports of goods (from EU Member States and third countries) were € 824.2 million in October 2020 compared to € 692.9 million in October 2019, an increase of 18.9%.

(b) Exports of domestically produced products, including ship and aircraft supplies, for October 2020 were € 93.7 million compared to € 112.7 million in October 2019, recording a decrease of 16.9%. The value of exports of industrial products for October 2020 amounted to € 88.1 million compared to € 106.2 million in October 2019, while the value of exports of agricultural products for October 2020 decreased to € 3.8 million. against € 4.4 million in October 2019.

(c) Exports of foreign products, including ship and aircraft supplies, for October 2020 were € 178.3 million compared to € 131.0 million in October 2019, recording an increase of 36.1%.

External trade statistics, November 2020

Based on preliminary data, the main developments in Cyprus' foreign trade for November 2020 can be summarized as follows:

(a) Total imports of goods were € 619.5 million compared to € 660.7 million in November 2019, recording a decrease of 6.2%. Imports from other EU Member States in November 2020 were € 387.6 million and from third countries € 231.9 million compared to € 398.0 million and € 262.6 million respectively in November 2019. Imports in November 2020 include the transfer of financial ownership of mobile transport equipment (ships), with a total value of € 58.3 million compared to € 76.4 million in November 2019.

(b) Total exports of goods in November 2020 were € 146.1 million compared to € 232.7 million in November 2019, recording a decrease of 37.2%. Exports to other EU Member States in November 2020 were € 47.6 million and to third countries € 98.5 million, compared to € 55.9 million and € 176.7 million respectively in November 2019. Exports in November 2020 include the transfer of financial ownership of mobile transport equipment (ships), with a total value of € 9.5 million compared to € 78.1 million in November 2019.

(c) Total imports of goods (from EU Member States and from third countries) for the period January – November 2020 were € 6,859.1 million compared to € 7,510.3 million for the period January – November 2019, noting decrease of 8.7%. Total exports of goods (to EU Member States and third countries) for the period January – November 2020 were € 2,547.0 million compared to € 2,884.2 million for the period January – November 2019, recording a decrease of 11, 7%. The trade deficit was € 4,312.1 million for the period January – November 2020 compared to € 4,626.1 million in the corresponding period of 2019.

Philenews / Statistical Service

Source: www.philenews.com

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