Cyprus exports rise 42% in January

Cyprus’ statistical service (CyStat) reported on Tuesday that total imports and exports of goods to and from European Union states and third countries recorded an annual increase in January, adding that there was an increase in the trade deficit.

CyStat stated that total imports of goods (from EU member-states and third countries) amounted to 746 million euros in January, compared to €590.6 million in January 2021, recording an increase of 26.3%.

Total exports of goods in January reached €222.4 million, up 42.3% from €156.3 million in the same month of 2021.

The Cypriot trade deficit came to €523.6 million in January compared to €434.3 million in the corresponding month of 2021.

The European Union was the main source of supplies of goods to Cyprus with a share of €520.8 million of total imports, while imports from all other European countries totaled €47.7 million in January 2022. Imports from the rest of the world amounted to €177.5 million.

Exports to the EU added up to €70.7 million, while exports to all other European countries came to €22.5 million in January 2022. Exports to the rest of the world amounted to €129.2 million