The trade deficit in Cyprus was 1.0701 billion euros (1.338 billion U.S. dollars) in January-March 2012 compared to 1.2287 billion euros in the same period of 2011, Statistical Service of Cyprus report said on Monday.

Referring to the main developments in Cyprus foreign trade, the report notes that total imports/arrivals, which cover total imports from third countries and arrivals from other EU member states, in January-March 2012 amounted to 1.396 billion euro as compared to 1.5701 billion euro in January-March 2011.

Total exports/dispatches, covering total exports to third countries and dispatches to other EU member states, in January-March 2012 were 325.9 million euro compared to 341.4 million euro in January-March 2011. (1 euro = 1.25 U.S. dollars)