The main developments in Cyprus Foreign Trade during the period January-July 2002 were:

(a) Total imports (covering imports for home consumption and imports placed into bonded warehouses) totalled £1.473,1 mn as compared with £1.526,0 mn in January-July 2001. Total exports amounted to £320,2 mn compared to £382,4 mn during the period January-July 2001. The trade deficit accounted for £1.152,9 mn compared to £1.143,6 mn in the corresponding period of 2001.

(b) Imports for home consumption totalled £1.328,1 mn compared to £1.293,2 mn in January-July 2001. Intermediate inputs imported for home consumption in January-July 2002 valued at £426,3 mn or 32,1%, followed by consumer goods with £371,9 mn or 28,0%, transport equipment with £189,8 mn or 14,3%, capital goods with £145,3 mn or10,9% and fuels and lubricants with £133,6 mn or 10,1%.

(c) Domestic exports, including stores and provisions stood at January - July 2001 level and valued at £155,9 mn and re-exports, including stores and provisions amounted to £164,3 mn compared to £226,5 mn in the corresponding period of 2001. Industrial products of domestic produce exported in January-July 2002 accounted for £110,1 mn or 73,2% while exports of raw agricultural products valued at £38,3 mn or 25,5%.

(d) During the period January-July 2002 the EU countries supplied Cyprus with goods valued at £787,1 mn or 53,4% and absorbed goods amounting to £85,2 mn or 56,7% of Cyprus domestic exports, excluding stores and provisions.