Quantum of Cyprus Export Outside the EU Has Doubled - Predicts Norman Logistics Sp.zo.o.

Quantum of Cyprus Export Outside the EU Has Doubled - Predicts Norman Logistics Sp.zo.o.

PR Newswire

RIGA, Latvia, October 30, 2018

RIGA, Latvia, October 30, 2018 /PRNewswire/ --

Norman Logistics Sp.zo.o. has released a new forecast of the Cyprus economy. Although export from the European Union (EU) member states from January to August 2018 reached only 0,8 billion euros, which is of 1% less than within the same period last year, export to the rest of the world reached 2,5 billion euros indicating the 100% increase in comparison with the last year's indexes[1].

It shall be mentioned that import volumes for the mentioned period reached 5,9 billion euros, indicating the increase of 11% (3,5 billion from the EU countries, or increase of 11% and 2,4 billion euros or increase of 31% from the rest of the world). This allowed Cyprus to decrease the trade deficit to 2,6 billion euros, comparing to the deficit of 2,9 billion euros within the same period last year, Rolands Petersons, member of the board of Norman Logistics Sp.zo.o. offers his thoughts on Cyprus economy.

These indexes once again confirm that Cyprus is being groundlessly considered to be money launderers - quite the opposite, legislation in this area is much stricter than in several other EU countries. It shall be mentioned that Cyprus real estate market is also growing. According to the statistics 4 500 purchase agreements were registered within the first half of 2018 in this area, which is of 27% more than within the same period last year[2].

Experts have calculated that this increase will go on until the end of the year and the whole 2018 will indicate better results than 2017. Despite the fact that 8 734 real estate objects were sold and purchased and this was the biggest indicator within the last eight years, exceeding the data of 2013 for 132%.

It is very positive that real estate market growth indicated in all the regions of Cyprus, even in Larnaka, where volumes were decreasing in 2017. Significant role in growth of the real estate had the demand from foreign countries - quantity of deals with foreign purchasers has doubled, but in some regions it has reached 75% of the total volume.

About Norman Logistics Sp.zo.o.: 
Norman Logistics Sp.zo.o. is an international logistics company based in Poland since 2016. This company operates in Europe and also in many other major logistics centers in the world. The core business is a cargo brokerage, mainly marine cargo. Norman Logistics customers is significant EU companies which his production transport throughout marine cargo. And service providers is medium or large shipping companies. The mission of Norman Logistics is convenient logistics and one point service for the same price, individual and best quality approach. 

Author: Rolands Petersons, member of the board of Norman Logistics Sp.zo.o.

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1. https://www.stockwatch.com.cy/en/article/emporiko-isozygioemporio/trade-deficit-drops-eu26-bln-first-8-months-2018

2. https://cyprusrussianbusiness.com/business/4224-property-cyprus

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