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Annual Change in October, +8.6% in Imports and -34.3% in Exports
October 2023, Preliminary Data
Total imports of goods in October 2023 were €1.020.8 million compared to €940.4 million in October 2022, an increase of 8.6%. Imports from other EU Member States were €604.5 million and from third countries €416.3 million, compared with €585.1 million and €355.3 million respectively in October 2022. Imports in October 2023 included the transfer of economic ownership of mobile transport equipment, worth €20.8 million compared with €65.5 million in October 2022.
Total goods exports in October 2023 were €274.8 million compared with €418.0 million in October 2022, a decrease of 34.3%. Exports to other EU Member States were €90.7 million and to third countries €184.1 million, compared with €81.1 million and €336.9 million respectively in October 2022. Exports in October 2023 do not include the transfer of economic ownership of mobile transport equipment, unlike in October 2022 when they included €153.8 million.
Total imports of goods for January-October 2023 were €10,829.5 million compared to €9,596.1 million for January-October 2022, an increase of 12.9%.
Total imports of goods for January-October 2023 were €10,829.5 million compared to €9,596.1 million for January-October 2022, an increase of 12.9%. Total exports of goods for the January-October 2023 period were €3,540.9 million compared to €3,267.9 million for the January-October 2022 period, an increase of 8.4%. The trade deficit was €7,288.6 million in January-October 2023 compared with €6,328.1 million in January-October 2022.
September 2023, Final Data
Total imports of goods were €1,077.9 million in September 2023 compared with €877.6 million in September 2022.
Exports of domestically produced goods, including ship and aircraft supplies, for September 2023 were €354.6 million compared to €107.1 million in September 2022, registering an increase of 231.1%.
Exports of domestically produced goods, including ship and aircraft supplies, for September 2023 were €354.6 million compared to €107.1 million in September 2022, registering an increase of 231.1%. The value of exports of manufactured goods for September 2023 was €348.7 million compared to €101.2 million in September 2022, while the value of exports of agricultural products for September 2023 was €4.6 million compared to €4.8 million in September 2022.
Exports of foreign goods, including ships and aircraft supplies, for September 2023 were €86.7 million.
More data are published in the monthly publication 'Intra-EU and Third Country Trade Statistics (Summary Data) - September 2023' as well as in the CYSTAT-DB database, under the Foreign Trade subheading. The links are available at the end of the article.
| Table |
[TR] [TD]
Year and Month
[/TD] [TD]Total Imports
[/TD] [TD]Total Exports
[/TD] [/TR] [TR] [TD]€000's
[/TD] [TD]€000's
[/TD] [/TR] [TR] [TD]2023
[/TD] [TD][/TD] [TD] [/TD] [/TR] [TR] [TD]
January - October
[/TD] [/TD] [TD]10.829,482
[/TD] [TD]
3,540,916
[/TD] [/TR] [TR] [TD]October
[/TD] [TD]1,020.786
[/TD] [TD]274,760
[/TD] [/TR] [TR] [TD]September
[/TD] [TD]1,077,949
[/TD] [TD]441.284
[/TD] [/TR] [TR] [TD]August
[/TD] [TD]1,190,977
[/TD] [TD]421,983
[/TD] [/TR] [TR] [TD]July
[/TD] [TD]1,093,624
[/TD] [TD]385.605
[/TD] [/TR] [TR] [TD]June
[/TD] [TD]1,057,188
[/TD] [TD]321,518
[/TD] [/TR] [TR] [TD]May
[/TD] [TD]989,463
[/TD] [TD]422.330
[/TD] [/TR] [TR] [TD]April
[/TD] [TD]906,109
[/TD] [TD]323,377
[/TD] [/TR] [TR] [TD]March
[/TD] [TD]1,004,268
[/TD] [TD]374.579
[/TD] [/TR] [TR] [TD]February
[/TD] [TD]767,453
[/TD] [TD]259,926
[/TD] [/TR] [TR] [TD]January
[/TD] [TD]1,721,665
[/TD] [TD]315.554
[/TD] [/TR] [TR] [TD]
2022
[/TD] [TD][/TD] [TD]
[/TD] [/TR] [TR] [TD]
January - December
[/TD] [/TD] [TD]11.470,010
[/TD] [/TD] [TD]4,208,766
[/TD] [/TR] [TR] [TD]December
[/TD] [TD]847,282
[/TD] [TD]593,296
[/TD] [/TR] [TR] [TD]November
[/TD] [TD]1.026.675
[/TD] [TD]347.545
[/TD] [/TR] [TR] [TD]October
[/TD] [TD]940.376
[/TD] [TD]417.958
[/TD] [/TR] [TR] [TD]September
[/TD] [TD]877.574
[/TD] [TD]288,264
[/TD] [/TR] [TR] [TD]August
[/TD] [TD]973,885
[/TD] [TD]269,610
[/TD] [/TR] [TR] [TD]July
[/TD] [TD]1.045,530
[/TD] [TD]427,223
[/TD] [/TR] [TR] [TD]June
[/TD] [TD]1,215,478
[/TD] [TD]294,730
[/TD] [/TR] [TR] [TD]May
[/TD] [TD]1,180.506
[/TD] [TD]437,089
[/TD] [/TR] [TR] [TD]April
[/TD] [TD]860.705
[/TD] [TD]281.056
[/TD] [/TR] [TR] [TD]March
[/TD] [TD]991.391
[/TD] [TD]325.674
[/TD] [/TR] [TR] [TD]February
[/TD] [TD]747,912
[/TD] [TD]301,850
[/TD] [/TR] [TR] [TD]January
[/TD] [TD]762,696
[/TD] [TD]224.472
[/TD] [/TR] [TR] [TD]Note: Data for May, July, August and September 2023 have been revised. Data for October 2023 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 border 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 where the last economically significant 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 produced in a country other than Cyprus and derived goods which have undergone substantial processing in a country other than Cyprus which has given 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 last country to which, at the time of export, the goods are known to be shipped.
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.
Trading partner for intra-Community imports means the Member State of origin of the goods.
The United Kingdom is included in trade with third countries. Imports from the United Kingdom shall be recorded on the basis of country of origin until 31 December 2020. From January 2021 onwards, as regards trade with Northern Ireland, imports shall be recorded on the basis of country of origin. For trade with the United Kingdom (excluding Northern Ireland), imports shall be recorded on the basis of the country of origin. For these reasons, import statistics from the United Kingdom are not fully comparable with those of other third countries, for periods before and after the end of 2020.
Mobile transport equipment
Mobile transport equipment refers to ships and aircraft.
For more information, interested parties can visit the Statistical Service Portal, under Foreign Trade, CYSTAT-DB (Database), Predefined Tables (Excel), Publications, Methodological Information or contact Mr. Sofronis Viki: No. Tel. Address: svikis@cystat.mof.gov.cy or Ms Joanna Leontiou: No.. Tel. Address: ileontiou@cystatmofgovcy
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.
Contents of this article including associated images are owned by PIO
Views & opinions expressed are those of the author and/or PIO
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