Cyprus Mail 11 January 2022 - by Kyriacos Nicolaou
The Cyprus Statistical Service (Cystat) announced on Monday that, according to preliminary data, the country’s trade deficit increased by 9.75 per cent during the first eleven months of 2021.
“The trade deficit was € 4.799 billion for the period between January and November 2021, compared to €4.372.6 billion for the corresponding period of 2020,” the service said in a statement.
In more detail, the total imports of goods up to November of 2021 came up to €896.4 million, a year-on-year increase of 29.4 per cent on the previous figure of €692.9 million.
Imports from European Union member states up to November of 2021 were € 516.4 million, while imports from third countries came up to €380 million. The same figures for 2020 stood at €395.5 million and €297.4 million respectively.
Imports during this time include the ownership transfer of mobile transport equipment, such as ships and aircraft, with a total value of €137.7 million compared to €111.5 million during the same period of the previous year.
In addition, the total exports of goods up to November of 2021 were €368.7 million compared to €147.6 million in November of 2020, a year-on-year increase of 149.7 per cent.
Exports to EU member states until November of 2021 totalled €98.8 million, while exports to third countries came up to €269.9 million. Export figures during the previous year stood at €48.1 million for EU member states and €99.5 million for third countries.
As with imports, exports recorded up to November of 2021 include the ownership transfer of mobile transport equipment, which had a total value of €148.4 million compared to €9.4 million a year before.
Moreover, the total imports of goods, from both EU member states and third countries, for the period between January and November of 2021 were €7.744.9 billion compared to €6.928.6 billion during the corresponding period in 2020, reflecting a year-on-year increase of 11.8 per cent.
At the same time, the total exports of goods, both to EU member states and third countries, for the first eleven months of 2021 came up to €2.945.8 billion, a 15.3 per cent year-on-year increase over the previous figure of €2.556 billion.
According to the finalised data for October of 2021, total imports of goods, both from the EU, as well as third countries, amounted to €714.4 million, a 13.7 per cent year-on-year drop. The same figure stood at €827.4 million in October of 2020.
Exports of locally produced products, including ship and aircraft supplies, for October of 2021 were worth a total of €101 million compared to €94.5 million in October of 2020, registering a year-on-year increase of 6.9 per cent.
The value of exports of industrial products for October of 2021 came up to €94.6 million compared to €88.2 million in October of the previous year, while the value of exports of agricultural products for October of 2021 came up to €5 million, €1.2 million higher than the previous year’s figure of €3.8 million.
Finally, the exports of foreign products, including the supplies of ships and aircraft, for October of 2021 came up to €338.9 million, a 90.4 year-on-year increase over the previous figure of €178 million.
