The trade deficit for Cyprus recorded an increase of €962.3 million during the period from January to November 2023, compared to the same period in 2022, according to preliminary data released by the Cyprus Statistical Service.

Specifically, the total imports of goods for the period from January to November 2023 were €11,896.6 million, compared to €10,622.7 million for the same period in 2022, marking an increase of 12.0%. The total exports of goods for the period from January to November 2023 were €3,927.1 million, compared to €3,615.5 million for the same period in 2022, an increase of 8.6%.

The trade deficit for the period from January to November 2023 was €7,969.5 million, compared to €7,007.2 million for the corresponding period in 2022.

Total imports of goods in November 2023 were €1,057.6 million, compared to €1,026.7 million in November 2022, an increase of 3.0%. Imports from other EU member states were €603.3 million, and from third countries €454.4 million, compared to €619.4 million and €407.3 million respectively in November 2022. The imports for November 2023 include the transfer of economic ownership of transport equipment, totaling €119.5 million, against €161.9 million in November 2022.

Total exports of goods in November 2023 were €379.5 million, compared to €347.5 million in November 2022, an increase of 9.2%. Exports to other EU member states were €88.1 million, and to third countries €291.5 million, compared to €78.4 million and €269.2 million respectively in November 2022. The exports for November 2023 include the transfer of economic ownership of transport equipment, totaling €47.2 million, against €161.3 million in November 2022.

Furthermore, according to the final data for October 2023, total imports of goods were €1,029.0 million, compared to €940.4 million in October 2022, an increase of 9.4%.

Exports of domestically produced goods, including supplies to ships and airplanes, for October 2023 were €165.1 million, compared to €163.6 million in October 2022, an increase of 0.9%. The value of industrial product exports for October 2023 was €159.5 million, compared to €157.5 million in October 2022, while the value of agricultural product exports for October 2023 was €4.1 million, compared to €5.0 million in October 2022.

Exports of foreign products, including supplies to ships and airplanes, for October 2023 were €114.8 million, compared to €254.4 million in October 2022, a decrease of 54.9%.