India, Feb. 10 -- Cyprus' merchandise trade deficit widened sharply in December as imports surged while exports continued to fall, preliminary data from the statistical office Cystat showed on Monday.
The visible trade deficit increased to EUR 955.23 million from EUR 561.72 million in the same month a year ago. The shortfall was EUR 761.45 million in November.
The latest trade gap figure is the biggest since January 2023, when it was EUR 1.435 billion.
Imports jumped 37.7 percent year-on-year in December after a 3.7 percent increase in November. Exports fell for a second month in a row, down 8.5 percent that followed the massive 49.3 percent slump in the previous month.
In December, imports included the transfer of economic ownership of...