Cyprus trade deficit declined by an annual 17.4% or €1.18 billion, in the period from January to September, according to provisional data published by the Statistical Service of Cyprus (Cystat).

The trade deficit was €5,598.4 mn in January–September 2024 compared to €6,780.7 mn in the corresponding period of 2023, Cystat said.

Total imports of goods in January–September 2024 amounted to €8,539.7 mn as compared to €10,070.1 mn in January–September 2023, recording a decrease of 15.2%.

Total exports of goods in January-September 2024 were €2,941.3 mn compared to €3,289.4 mn in January-September 2023, registering a decrease of 10.6%.

In September, imports of goods stood at €944.2 mn as compared to €1,101.4 mn in September 2023, recording a decrease of 14.3%.

Imports from other EU Member States were €592.9 mn and from third countries €351.3 mn, compared to €638.5 mn and €462.9 mn respectively in September 2023.

The September included the transfer of economic ownership of vessels, with total value of €28.9 mn as compared to €7.9 mn in September 2023.

Total exports of goods in September 2024 were €350.2 mn as compared to €444.2 mn in September 2023, recording a decrease of 21.2%.

Exports to other EU Member States were €109.6 mn and to third countries €240.6 mn, compared to €86.2 mn and €358 mn respectively in September 2023, Cystat added.