Cyprus’ exports to the EU were down by 26%, whereas exports outside the EU dropped by 14%.
According to Eurostat, Cyprus’ imports amounted to €3 billion, recording an increase of 18%. Imports from the EU were up by 28%, while imports from outside the EU decreased by 9%.
As a result, Cyprus recorded a negative trade balance of €2.2 billion, against €1.5 billion last year.
The first estimate for euro area (EA19) exports of goods to the rest of the world in June 2016 was €178.8 billion, a decrease of 2% compared with June 2015 (€182.8 billion).
Source: Famagusta Gazette
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Digital assets are no longer a niche, but a part of modern finance attracting a growing number of investors – and there is immense potential for Cyprus to become a leading cryptocurrency hub. By fostering a more inclusive regulatory ecosystem, Cyprus can diversify its financial services sector and position itself at the forefront of digital finance, says Georg Bühler, Managing Director of Mount Pelion Capital.
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