Cyprus trade deficit widens to 943 million euros in July, hitting a three-month high

⑴ Cyprus’ trade deficit in July widened significantly from 744 million euros in the same period last year to 943 million euros, marking the largest deficit since April. ⑵ Imports rose by 22.8% year-on-year to 1.609 billion euros. Imports from EU countries grew by 5.6% to 788 million euros, while imports from non-EU countries surged by 45.4% to 822 million euros. The valuation of vessel economic ownership transfers included in imports stood at 136 million euros, up from 23 million euros in the same period last year. ⑶ Exports increased by 17.6% to 667 million euros. Exports to non-EU countries jumped by 36.9% to 539 million euros, being the main driving force, while exports to EU countries declined by 26.3% to 128 million euros. The valuation of vessel and aircraft transfers was 35 million euros, compared to 69 million euros in the same period last year. ⑷ The trade deficit from January to July widened from 4.799 billion euros in the same period last year to 5.620 billion euros.