Report says TC trade deficit narrows


By Esra Aygin

The Turkish Cypriot trade deficit was reduced by some $200 million in 2015 to $1.3 billion, according to a report released by the Turkish Cypriot banking authority. The trade deficit in 2014 was about $1.5bn.

Exports from the northern part of Cyprus totalled $109,768,534 ($109.8m), while imports amounted to $1,396,928 ($1.4bn). By comparison, exports from the south, including re-exports, reached €1.1bn in 2015, while imports for domestic consumption amounted to €5.5bn.

The figures do not include trade with the southern part of the island in the context of the Green Line Regulation, nor the fuel imports of the northern part of Cyprus, which amounted to $113.5m in 2015.

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