Cyprus’ trade deficit on the rise
![Cyprus’ trade deficit on the rise](https://www.ekathimerini.com/wp-content/uploads/2021/01/halloumi-thumb-large.jpg)
Cyprus’ trade deficit jumped to 6.17 billion euros in the period from January to October 2022, surpassing the deficit for the full year 2022 amounting to €5.24 billion, amid price hikes mainly driven by the war in Ukraine.
According to provisional data issued on Monday by the Statistical Service of Cyprus (CyStat), total imports of goods were €901.5 million, compared to €723.4 million in October 2021, recording an increase of 24.6%.
Imports from other European Union member-states in October were €558.3 million and from third countries €343.2 million, compared to €498.4 million and €225.1 million respectively in October 2021.
Imports in October include the transfer of economic ownership of mobile transport equipment (vessels), with a total value of €53.4 million, down from €63.6 million in October 2021.
Total exports of goods in October were €399.9 million, against €462.5 million in October 2021, recording a decrease of 13.5%.
Exports to other EU member-states in October were €79.4 million and to third countries €320.5 million, compared to €72.7 million and €389.8 million respectively a year earlier.