A small increase in exports in April, due to overseas sales of halloumi cheese and pharmaceuticals, helped narrow the trade deficit in the first four months of the year, with January-April imports down a significant 18% and exports reduced at a smaller 8% rate, according to the Cyprus statistical service Cystat. Total imports of goods … Read more
The text discusses the potential impact of a Biden or Trump presidency on the US economy. The analysis covers eight major economic categories, including domestic manufacturing, higher education, healthcare, housing, labor, taxes, tariffs, and trade. Biden and Trump have different plans and approaches to these economic categories based on their past records as president and their campaign promises. Biden focuses on issues like lowering prescription drug costs, investing in the future, supporting workers and small businesses, and ensuring fair taxation. Trump, on the other hand, has proposed plans such as protecting American car manufacturers, imposing tariffs on foreign-made cars, and focusing on fossil fuels. The text also highlights the differences in their views on student loan debt, healthcare, housing costs, labor unions, taxes, tariffs, and trade policies.
Fact: Cyprus’ trade deficit narrowed sharply in the first quarter of 2024, standing at €1.7 billion compared to €2.56 billion in the same period in 2023, marking a decline of almost 34 per cent year-on-year.
The trade deficit for the first two months of the year fell to €1,144.4 mln compared to €1,929.6 mln in the same period last year.
President Biden’s FY 2025 budget proposes tax hikes on businesses and high earners, amounting to a gross tax hike of over .1 trillion.
– The January foreign trade deficit in Cyprus decreased to a third of the level from the previous year, primarily due to a significant reduction in imports, especially in the transfer of ships and other vessels.
– The trade deficit for the entire year of 2023 narrowed by €313 million.
– Total imports of goods in January were €848.1 million, a 51.1% decrease from €1,735.1 million in January 2023.
– Total exports in January were €281.5 million, a 10.7% decrease from €315.2 million in January 2023.
– The trade deficit in January 2024 was €566.5 million, down from €1,419.9 million in January 2023.
– Imports from other EU member states were €510.7 million, and from third countries were €337.4 million, compared to €529.1 million and €1,206.0 million, respectively, in January 2023.
– Exports to other EU member states were €103.5 million, and to third countries were €178.1 million, compared to €69.8 million and €245.4 million, respectively, in January 2023.
– January imports included the transfer of economic ownership of vessels worth €65.2 million, compared to €936.3 million in January 2023.
– January exports included the transfer of economic ownership of vessels and aircraft worth €69.5 million, compared to €107.5 million in January 2023.
– Excluding ships, the January foreign trade deficit slightly increased from €570.9 million in 2024 to €591.1 million in the same month of the previous year.
– Total imports of goods in December amounted to €928.4 million, a 9.6% increase from €847.3 million in December 2022.
– Total exports in December reached €389.9 million.
– Total imports for all of 2023 were €12,948.9 million, and exports were €4,686.3 million.
– The foreign trade deficit for all of 2023 was adjusted to €8,262.6 million, narrower than the €8,575 million based on provisional data for December.