A large increase of €1,12 billion showed the deficit in the trade balance of Cyprus in the first half of 2022, compared to the corresponding half of last year, according to preliminary figures of the Statistical Service, due to the jump in imports by an additional €1,6 billion , about.
Specifically, the trade balance deficit was €3.860,6 million for the period January – June 2022, compared to €2.734,9 million in the corresponding period of 2021.
Based on preliminary data from the Statistical Service, total imports of goods (from EU Member States and from third countries) for the period January – June 2022 were €5.664,3 million compared to €4.059,9 million for the January period – June 2021, increasing by 39,5%.
Total exports of goods (to EU Member States and third countries) for the period January – June 2022 were €1.803,8 million compared to €1.325,0 million for the period January – June 2021, an increase of 36,1, XNUMX%.
In addition, in June 2022, according to preliminary data, imports of goods jumped by 56,1%, while exports fell by 1,5%.
Specifically, total goods imports were €1.195,5 million compared to €765,7 million in June 2021, recording an increase of 56,1%.
Imports from other EU Member States in June 2022 were €570,9m and from third countries €624,6m compared to €486,2m and €279,5m respectively in June 2021.
Imports in June 2022 include the transfer of economic property of mobile transport equipment (ships and aircraft), with a total value of €364,9 million compared to €113,4 million in June 2021.
Besides, total exports of goods in June 2022 were €292,1 million compared to €296,6 million in June 2021, marking a decrease of 1,5%.
Exports to other EU Member States in June 2022 were €105,7m and to third countries €186,4m, compared to €84,2m and €212,4m respectively in June 2021.
Exports in June 2022 include the transfer of economic property of mobile transport equipment (ships), with a total value of €39,3 million compared to €80,5 million in June 2021.
Final figures for May
Besides, according to the final figures for Cyprus' foreign trade in May 2022, there was a significant increase both in imports from EU countries and third countries, as well as in exports of products produced in Cyprus, as well as products produced abroad.
Specifically, in May 2022 total imports (from the EU and third countries) reached €1.152,8 million, compared to €668,1 million in May 2021, recording an increase of 72,5%.
Exports of Cypriot-made products, including stores and supplies, in May 2022 were €209,3 million compared to €125,6 million in the corresponding month of 2021, an increase of 66,6%. Of these, exports of industrial products were €195,5 million (versus €111,7 in 2021 respectively) and exports of agricultural products were €12,9 million (versus €12,3 in 2021 respectively). Exports of foreign products reached €210 million, while in May 2021 it was €101,7, registering an increase of 106,5%.
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