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Ministry of Finance, Statistical Service



27/02/2004
NEW PUBLICATION: FOREIGN TRADE STATISTICS (SUMMARISED DATA), DEC 2003
27/02/2004
1. The Statistical Service of Cyprus announces that it has published the monthly report “Foreign Trade Statistics (Summarised Data)” for 2003 which is available from the Printing Office of the Republic of Cyprus in Nicosia at the price of C£2=.

The report provides data for the direction of trade, analysis of trade by H.S. Commodity Section, total imports and imports for home consumption by economic destination and area, total imports and imports for home consumption by broad economic sector and by area and analysis of domestic exports by broad economic sector and by area.

2. The main developments in Cyprus foreign trade in 2003 were:

(a) Total imports (covering imports for home consumption and imports placed into bonded warehouses) in 2003 declined to £2.314,2 mn compared to £2.486,6 mn in 2002. Total exports decreased also to £476,8 mn in 2003 compared to £511,3 mn in 2002. The trade deficit fell by 7% to £1.837,4 mn in 2003 compared to £1.975,3 mn in 2002.

(b) Imports for home consumption in 2003 totalled £2,106,6 mn from £2.256,4 mn in the preceding year. Intermediate inputs imported for home consumption in 2003 valued at £716,4 mn or 34,0%, followed by consumer goods with £638,2 mn or 30,3%, capital goods with 256,6 mn or 12,2%, transport equipment with £228,3 mn or 10,8% and fuels and lubricants with £162,5 mn or 7,7%.

(c) Domestic exports, excluding stores and provisions valued at £205,9 mn in 2003 from £221,9 mn in 2002 and re-exports, excluding stores and provisions, to £224,5 mn in 2003 compared to £247,1 mn in 2002. Industrial products of domestic produce exported in 2003 accounted for £159,2 mn or 77,3% while exports of raw agricultural products valued at £43,6 mn or 21,2%.

(d) During 2003 the EU countries supplied Cyprus with goods valued at £1.285,4 mn or 55,5% and absorbed goods valued at £117,2 mn or 56,9% of Cyprus domestic exports.










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