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The main developments in Cyprus foreign trade during January-June 1998 as compared with January-June 1997 were: (a) Total imports (covering imports for home consumption and imports placed into bonded warehouses) totalled £938,3 mn as compared with £938,6 mn in January-June 1997. (b) Total exports were £315,6 mn in relation to £308,5 mn in January-June 1997. (c) As a result of the above developments the trade deficit totalled £622,7 mn compared to £630,1 mn in January-June 1997. (d) Imports for home consumption were £763,4 mn in January-June 1998 and £745,9 mn in January-June 1997. (e) The EU countries supplied Cyprus with goods valued at £492,7 mn or 52,5% of the total imports as compared with £440,7 mn or 47,0% during January-June 1997. (f) Intermediate inputs imported for home consumption during January-June 1998 were £305,0 mn or 40,0% as against £286,7 mn or 38,4% in January-June 1997, followed by consumer goods with £215,4 mn or 28,2% as against £173,8 mn or 23,3%; transport equipment amounted to £93,2 mn or 12,2% compared to £73,3 mn or 9,8% and capital goods accounted for £88,8 mn or 11,6% as compared with £77,2 mn or 10,4% in January-June 1997. (g) Domestic exports, including shipstores, reached £131,7 mn in January-June 1998 in relation to £112,3 mn in January-June 1997 whilst re-exports including shipstores, amounted to £183,9 mn compared to £196,2 mn in January-June 1997. (h) The EU countries absorbed 58,1% or £75,1 mn of Cyprus domestic exports (excluding shipstores) followed by the Arab countries with a share of 22,9% or £29,5 mn. The corresponding shares for the EU and Arab countries for January-June, 1997 were 55,3% and 25,7% respectively. (i) Industrial products of domestic produce exported during the first six months of 1998 (excluding shipstores) accounted for 67,7% or £87,5 mn as compared with 74,7% or £81,9 mn, during the same period of 1997, with clothing and footwear accounting for £13,3 mn and £5,0 mn respectively, whilst exports of clothing during January-June 1997 totalled £13,0 mn and of footwear £3,5 mn. Exports of raw agricultural products increased to £41,3 mn in January-June 1998 from £27,2 mn in January-June 1997, with potatoes accounting for £27,2 mn compared to £8,0 mn and citrus fruit for £10,9 mn and £14,2 mn in January-June 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. |
