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The main developments in Cyprus foreign trade during January-August 1998 as compared with January-August 1997 were: (a) Total imports (covering imports for home consumption and imports placed into bonded warehouses) valued at £1.243,6 mn as compared with £1.251,2 mn in January-August 1997. (b) Total exports were £404,6 mn in relation to £427,5 mn in January-August 1997. (c) As a result of the above developments the trade deficit totalled £839,0 mn compared to £823,7 mn in January-August 1997. (d) Imports for home consumption were £1.016,6 mn in January-August 1998 and £983,6 mn in January-August 1997. (e) The EU countries supplied goods valued at £657,9 mn or 52,9% of the total imports as compared with £583,1 mn or 46,6% during January-August 1997. (f) Intermediate inputs imported for home consumption during January-August 1998 were £402,4 mn or 39,6% as against £378,9 mn or 38,5% in January-August 1997, followed by consumer goods with £284,0 mn or 27,9% as against £230,2 mn or 23,4%; capital goods accounted for £126,9 mn or 12,5% as compared with £105,5 mn or 10,7% in January-August 1997 and transport equipment amounted to £119,3 mn or 11,7% compared to £99,9 mn or 10,2%. (g) Domestic exports including shipstores, reached £164,7 mn in January-August 1998 in relation to £148,1 mn in January-August 1997, whilst re-exports including shipstores amounted to £239,9 mn compared to £279,5 mn in January-August 1997. (h) The EU countries absorbed 57,2% or £90,8 mn of Cyprus domestic exports (excluding shipstores), followed by the Arab countries with a share of 23,7% or £37,6 mn. The corresponding shares of the EU countries and the Arab countries for January-August 1997 were 50,4% and 27,3% respectively. (i) Industrial products of domestic produce exported during January-August of 1998 (excluding shipstores) accounted for 71,6% or £113,6 mn as compared with 78,9% or £113,5 mn, during the corresponding period of 1997, with clothing and footwear accounting for £19,1 mn and £6,3 mn respectively, whilst exports of clothing during January-August 1997 totalled £18,3 mn and of footwear £4,6 mn. Exports of agricultural products increased to £44,3 mn in January-August 1998 from £29,7 mn in January-August 1997, with potatoes accounting for £27,0 mn compared to £8,0 mn and citrus fruit for £10,9 mn and £14,3 mn in January-August 1998 and 1997 respectively.. Additional data on Cyprus foreign trade are shown in the quarterly publication entitled “Imports-Exports Statistics” obtainable from the Government Printing Office while more detailed statistics on the same field are available from the Department of Statistics and Research. |
