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Cyprus Trade Deficit Narrows In November

Cyprus' merchandise trade deficit decreased from the previous month in November, preliminary data released by the statistical office showed Thursday.

The trade deficit dropped to EUR340.69 million in November from EUR379.52 million in October. In November 2011, the balance was a deficit of EUR405.35 million.

The value of exports decreased to EUR113.74 million in November from EUR127.44 million in the previous month.

At the same time, imports declined to EUR454.43 million from EUR506.96 million, the agency said.

In the January-November period, the trade balance was a deficit of EUR4 billion, down from the EUR4.51 billion shortfall seen in the same period a year earlier. Exports increased during the 11-month period, while imports decreased, data showed.

by RTTNews Staff Writer

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