Trade deficit shrinks

Cyprus’ trade deficit shrank by €917 million during the period January to September 2013, according to the island’s statistical service.

In a publication of summarised data released on Monday, the Service said total imports during this period amounted to €3.6 billion, from €4.3 billion between January and September 2012.

Total exports during in the first nine months of 2013 were €1.2 billion, up from around €1.1 billion in the corresponding period last year.

As a result, the country’s trade deficit shrank to €2.4 billion in January-September 2013, marking a €917 million reduction compared to last year’s €3.2 billion.

According to the report, total imports for September 2013 amounted to €426.9 million, down from €462.6 million in September 2012.

Total exports in September 2013 were €145.6 million, from €120.3 million in September 2012.

The resulting trade deficit for September 2013 was €281.3 million, lower than September 2012 – €342.3 million.

 

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.