-
.
- Русский
Annual Change +14.2% in Imports and +23.3% in Exports
The Statistical Office announces the release of the annual report 'Cyprus Foreign Trade Statistics (Volumes I-IV)' for 2021, which contains detailed data by product in eight-digit Combined Nomenclature analysis and by main trading partners.
Total imports of goods in 2021 were €8,726.3 million compared to €7,642.1 million in 2020, an increase of 14.2%. Total exports of goods in 2021 were €3,387.7 million compared to €2,746.6 million in 2020, an increase of 23.3%. The trade deficit was €5,338.6 million in 2021 compared to €4,895.5 million in 2020.
The European Union was the main source of supply of goods to Cyprus with a share of €5,704.9 million of total imports, while imports from other European countries were €652.5 million in 2021. Imports from the rest of the world were €2,368.9 million.
Exports to the European Union amounted to €939.4 million, while exports to other European countries were €425.7 million in 2021. Exports to the rest of the world were €2,022.6 million.
The annual report is available free of charge on the Statistical Office's portal, under the Foreign Trade subtopic in the Publications section.
Methodological
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.
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-Community 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 and 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 from other third countries for periods before and after the end of 2020.
For more information:
Statistical Office Portal, under Foreign Trade
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.
Contact
Ioanna Leontiou: No. Tel. Address: ileontiou@cystat.mof.gov.cy
Contents of this article including associated images are belongs PIO
Views & opinions expressed are those of the author and/or PIO
Source
