The main developments in Cyprus foreign trade during January 2003 were:

(a) Total imports (covering imports for home consumption and imports placed into bonded warehouses) were £170,5 mn as compared to £190,3 mn in January 2002. Total exports amounted to £31,7 mn in January 2003 compared to £38,9 mn during January 2002. The trade deficit accounted for £138,8 mn compared to £151,4 mn in the corresponding period of 2002.

(b) Imports for home consumption declined to £144,8 mn from £170,9 mn in January 2002. Intermediate inputs imported for home consumption in January 2003 were valued at £56,3 mn or 38,9%, followed by consumer goods with £35,6 mn or 24,6%, capital goods with £18,7 mn or 12,9%, transport equipment with £17,9 mn or 12,3%, and fuels and lubricants with £16,4 mn or 11,3%.

(c) Domestic exports, including stores and provisions amounted to £15,7 mn in January 2003 from £17,6 mn in January 2002 and re-exports, including stores and provisions, to £16,0 mn compared to £21,4 mn in the corresponding period of 2002. Industrial products of domestic produce exported in January 2003 accounted for £11,7 mn or 77,7% while exports of raw agricultural products were valued at £3,2 mn or 21,3%.

(d) During January 2003 the EU countries supplied Cyprus with goods valued at £94,2 mn or 55,3% and absorbed goods valued at £8,8 mn or 58,7% of Cyprus domestic exports, excluding stores and provisions.

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 Statistical Service.