Trade deficit up an annual €685m in January-September

Cyprus’ trade deficit in January-September 2023 was €6,490.8m, compared to €5,805.7m in the same period last year, recording a €685.1m increase.

According to Cystat, total imports of goods in January–September 2023 totalled €9,756.5m (€8,655.7m in Jan–Sep 2022), recording an increase of 12.7%. Total exports of goods in the same period reached €3,265.7m compared to €2,850m last year (up 14.6%).

Provisional data for September 2023

Total imports of goods totaled €1,100.4m in September, compared to €877.6m in September 2022, recording an increase of 25.4%. Imports from other EU Member States were €637.7m and from third countries €462.7m, compared to €564m and €313.6m respectively in September 2022.

Imports include the transfer of economic ownership of mobile transport equipment, with a total value of €14.5m (€26.9m in September 2022).

Total exports of goods in September were €440.8m compared to €288.3m in the same month last year (+52.9%). Exports to other EU member states were €82.9m and to third countries €357.9m, compared to €121.6m and €166.7m respectively in September 2022. Exports include the transfer of economic ownership of mobile transport equipment, with total value of €2.6m as compared to €77.8m in September 2022.

Final data for August 2023

The Statistical Service also published the final data for August 2023. Total imports of goods amounted to €1,116.3m in August 2023 as compared to €973.9m in August 2022, recording an increase of 14.6%.

Exports of domestically produced products, including stores and provisions, were €220.4m (€119.5 m in August 2022), recording an increase of 84.4%. Domestic exports of industrial products were €214.1m (€112.4m in August 2022), whilst domestic exports of agricultural products were €5.5m compared to €6.1m. Exports of foreign products, including stores and provisions, were €201.6m compared to €150.1m in August 2022, recording an increase of 34.3%.