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March 2024, Preliminary Data
Total imports of goods in March 2024 were €810.1 million compared to €1,014.4 million in March 2023, a decrease of 20.1%. Imports from other EU Member States were €548.9 million and from third countries €261.2 million, compared with €636.3 million and €378.1 million respectively in March 2023. Imports in March 2024 include the transfer of economic ownership of vessels, totalling €9.5 million compared to €50.0 million in March 2023.
Total exports of goods in March 2024 were €261.0 million compared to €374.8 million in March 2023, a decrease of 30.4%. Exports to other EU Member States were €113.8 million and to third countries €147.2 million, compared with €78.8 million and €296.0 million respectively in March 2023. Exports in March 2024 include the transfer of economic ownership of ships, totalling €36.6 million compared to €139.6 million in March 2023.
Total imports of goods for January-March 2024 were €2,519.2 million compared to €3,520.0 million for January-March 2023, a decrease of 28.4%. Total goods exports for the January-March 2024 period were €815.5 million compared to €950.8 million for the January-March 2023 period, a decrease of 14.2%. The trade deficit was €1,703.6 million for the January-March 2024 period compared to €2,569.2 million for the corresponding period in 2023.
February 2024, Final Data[/B]
Total goods imports were €852.5 million in February 2024 compared to €770.5 million in February 2023, an increase of 10.6%.
Exports of domestically produced goods, including ship and aircraft supplies, for February 2024 were €119.6 million compared to €122.3 million in February 2023, recording a decrease of 2.2%. The value of exports of manufactured goods for February 2024 was €110.8 million compared to €114.5 million in February 2023, while the value of exports of agricultural products for February 2024 was €7.7 million compared to €7.2 million in February 2023.
Foreign goods exports, including ship and aircraft supplies, for February 2024 were €123.9 million compared to €138.5 million in February 2023, a decrease of 10.5%.
More data are published in the monthly publication 'Intra-EU and Third Country Trade Statistics (Summary Data) - February 2024' as well as in the CYSTAT-DB database under the Foreign Trade subtopic.
| Table |
[TR] [TD]
Year and Month
[/TD] [/TD] [TD]Total Imports
[/TD] [TD]Total Exports
[/TD] [/TR] [TR] [TD]€000's
[/TD] [TD]€000's
[/TD] [/TR] [TR] [TD]2024
[/TD] [TD] [/TD] [TD] [/TD] [/TR] [TR] [TD]March
[/TD] [TD]
810.129
[/TD] [TD]260.983
[/TD] [/TR] [TR] [TD]February
[/TD] [TD]852.468
[/TD] [TD]243.464
[/TD] [/TR] [TR] [TD]January
[/TD] [TD]856,554
[/TD] [TD]311.093
[/TD] [/TR] [TR] [TD]
2023
[/TD] [TD][/TD] [TD]
[/TD] [/TR] [TR] [TD]
January - December
[/TD] [/TD] [TD]
12.948,896
[/TD] [TD]4.686,283
[/TD] [/TR] [TR] [TD]December
[/TD] [TD]928.391
[/TD] [TD]389,869
[/TD] [/TR] [TR] [TD]November
[/TD] [TD]1,078,279
[/TD] [TD]745,267
[/TD] [/TR] [TR] [TD]October
[/TD] [TD]1.037,892
[/TD] [TD]282,069
[/TD] [/TR] [TR] [TD]September
[/TD] [TD]1,083,597
[/TD] [TD]443.537
[/TD] [/TR] [TR] [TD]August
[/TD] [TD]1,223,514
[/TD] [TD]422,252
[/TD] [/TR] [TR] [TD]July
[/TD] [TD]1.102,309
[/TD] [TD]386,406
[/TD] [/TR] [TR] [TD]June
[/TD] [TD]1,059,482
[/TD] [TD]321.007
[/TD] [/TR] [TR] [TD]May
[/TD] [TD]1,000,007
[/TD] [TD]421,788
[/TD] [/TR] [TR] [TD]April
[/TD] [TD]915,458
[/TD] [TD]323.297
[/TD] [/TR] [TR] [TD]March
[/TD] [TD]1,014,401
[/TD] [TD]374,778
[/TD] [/TR] [TR] [TD]February
[/TD] [TD]770.478
[/TD] [TD]260,800
[/TD] [/TR] [TR] [TD]January
[/TD] [TD]1,735,090
[/TD] [TD]315,213
[/TD] [/TR] [TR] [TD]Note: Import and export figures for January and February 2024 have been revised. Data for March 2024 are preliminary.
[/TD] [/TR] [/TR]
Methodological Information
Statistical Value
The statistical value is the value of goods at the time and place where the goods cross the borders of Cyprus.
Domestically Produced and Foreign Produced Goods
Domestically produced goods are goods that are wholly produced in Cyprus or goods that were produced in another country, but the last economically substantial processing or working took place in Cyprus that led to the manufacture of a new product or represents an important stage in the manufacturing process. Goods which were originally imported and have undergone a repair or other non-substantial process which does not substantially change them are not defined as domestic.
Foreign goods are goods which were produced in a country other than Cyprus and derived goods which have undergone substantial processing in a country other than Cyprus which gave them origin in that country.
Trading Partner
Intra-EU exports and exports to third countries are compiled on the basis of the EU Member State and the country of final destination respectively, i.e.
The trading partner for imports from third countries is the country of origin of the goods, i.e. the country in which the goods are wholly produced. A good, the production of which involves two or more countries, originates in the country in which the last economically substantial processing or working leading to the manufacture of a new product took place or represents a significant stage in the manufacturing process.
The trading partner for intra-EU imports is the Member State of origin of the goods.
The United Kingdom is included in trade with third countries. Imports from the United Kingdom are recorded on the basis of country of origin until 31 December 2020. From January 2021 onwards, for trade with Northern Ireland, imports are recorded on the basis of country of origin, while for trade with the United Kingdom (excluding Northern Ireland) imports are recorded on the basis of country of origin. For these reasons, import statistics from the United Kingdom are not fully comparable with those of other third countries for the periods before and after the end of 2020.
For more information, interested parties can visit the Statistical Office Portal, under External Trade, CYSTAT-DB (Database), Predefined Tables (Excel), Publications, Methodological Information or contact Mr. Sofronis Viki (tel.: 22 602206, tel. url=mailto:svikis@cystat.mof.gov.cy]svikis@cystat.mof.gov.cy[/URL]) or Ms Ioanna Leontiou (tel.: 22 605122, e-mail: ileontiou@cystat.mof.gov.cy).
The Predefined Tables in Excel format include data up to December 2022. For January 2023 and thereafter, the update is done only in the CYSTAT-DB Database.
(NZ/AF)
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