Imports and exports up

Both imports and exports rose markedly during the first two months of the year, compared to the same period in 2016, according preliminary data from the Statistical Service.

The increase is in spite of the turmoil at the port of Limassol, after commercial operations there were privatised earlier this year, leading to delays with the loading and unloading of containers.

According to CyStat, imports in February 2017 were 18.1 per cent up on the same month of 2016, coming to €423.5 million.

Over the January-February period, imports were 36.1 per cent up on the same period in 2016.

Exports during the first two months of this year came to €316 million, compared to €227 million for the same period in 2016.

However the trade balance deteriorated. The trade deficit in the January-February 2017 period was €622.8 million, compared to 462.6 million for the same period last year.

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