Cyprus’ external trade deficit rose to 781 million euros in 2016, due to an increase in imports, and shrinking amounts of exports, provisional data on foreign trade from the island’s statistical service showed on Friday.
According to the data, the deficit in 2016’s trade balance rose to 4.18 billion euros from the 3.4 billion euros recorded in 2015.
Imports increased last year by 765 million euros to 5.9 billion euros, from 5.14 billion euros in 2015, while exports went down by 15.52 million euros to 1.72 billion euros from 1.73 billion euros in 2015.
Meanwhile, on the basis of preliminary estimates for Cyprus’ foreign trade in December 2016, total imports/arrivals were 561.8 million euros, of which 352.4 million euros were arrivals from other member states of EU and 209.4 million euros were imports from third countries.
Total exports/dispatches were 154.2 million euros of which 59.0 million euros were dispatches to other member states of EU and 95.1 million euros were exports to third countries.
Source: CNA
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