Description External trade statistics cover both extra and intra-EU trade.
Method
Data sources:
Since the accession of Cyprus to the EU in May 2004, major changes were brought to external trade data. Trade statistics with EU Member States and trade statistics with non-EU countries are compiled mainly from two separate sources. This was the consequence of the abolition of custom formalities between EU Member States, which had served as the traditional source of trade statistics, and the introduction of a new data collection system called Intrastat. Customs declarations, the traditional source of almost all trade statistics, were no longer required for most movements of goods within the EU. A new EU wide system for collecting intra-EU trade statistics, Intrastat, was introduced in May 2004 for the compilation of statistics on trade in goods between EU Member States.
The introduction of Intrastat as from May 2004 brought about a methodological break with the past. Intra-EU trade statistics are compiled using the information extracted mainly from two sources. The first one is the Intrastat system, in which traders submit detailed monthly returns giving information to the competent national authority on arrivals and/or dispatches of goods with EU Member States. The second main source for the collection of intra-EU trade statistics is the VAT return, on which all traders are required to record the total value of goods imported from and exported to other EU Member States. The information provided on the VAT returns is necessary for the collection of data on intra-EU trade for those traders below the Intrastat thresholds, for maintaining the Intrastat trader΄s register and for identifying those traders exceeding the thresholds who are required to submit the detailed Intrastat return.
The statistics on the trade of goods with non-EU countries are compiled mainly from the computerized systems of the customs authority for imports (“Theseas” system) and for exports.
- Other administrative sources of information are utilized in the compilation process of intra and extra EU trade statistics, such as data from Shipping Deputy Ministry, Civil Aviation Department and international database for vessels. For special categories of goods such as vessels, a direct collection of data via a special survey is carried out by Statistical Service.
Reference period:
- Intra-EU trade: Τhe reference period is defined as the calendar month of arrival or dispatch of the goods.
- Extra-EU trade: The reference period is the calendar month in which the customs authorities accept and release the declaration.
Data Coverage
Recording System:
Extra-EU trade: The general trade system is recorded for the trade with non-EU countries. Under it, the recorded aggregates include all goods entering or leaving the economic territory of Cyprus with the exception of simple transit trade or transshipment of goods. Quasi transit trade is included in general imports and exports statistics. In particular, goods which are received into customs warehouses are recorded as imports at that stage whether or not they subsequently go into free circulation in Cyprus. Similarly, outgoing goods from customs warehouses are recorded as exports at the time they leave Cyprus. Furthermore, goods that go or leave directly into/from local market are included. Goods imported or exported for temporary use (less than 2 years), without change of legal ownership are excluded from extra-EU trade statistics (with the exception of processing trade).
Some goods movements are included in statistics based on specific conditions i.e. aircraft and ships whose economic ownership has been transferred from a natural or legal person established in a third country to a natural or legal person established in Cyprus are included in imports statistics.
Intra-EU trade: The Intrastat system is based on the concept of movement of goods between Member States. Accordingly, it is applied to the goods which move from one Member State to another. As such, intra-EU trade statistics record the arrivals and dispatches of all movable property recorded by each Member State. "Arrivals" are analogous to imports; "dispatches" are analogous to exports.
Arrivals include:
a) Union goods, except goods which are in simple circulation between Member States;
b) goods formerly placed in the Member State of dispatch under the inward processing customs procedure, which are maintained in accordance with these procedures or released for free circulation in the Member State of arrival;
c) Some goods movements are included in statistics based on specific conditions i.e. aircraft and ships whose economic ownership has been transferred from a natural or legal person established in another Member State to a natural or legal person established in Cyprus are included in arrival statistics.
Dispatches include:
a) Union goods, except goods which are in simple circulation between Member States;
b) goods placed in the Member State of dispatch under the inward processing customs procedure;
c) Some goods movements are included in statistics based on specific conditions i.e. aircraft and ships whose economic ownership has been transferred from a natural or legal person established in Cyprus to a natural or legal person established in another Member State are included in dispatches statistics.
Statistics do not cover goods in transit that is goods that are merely passing across a Member State, by any means of transport, but are not stored there for any but transport reasons.
Goods imported or exported for temporary use (less than 2 years), while the dispatch/arrival has not to be declared as a supply/acquisition for VAT purposes are excluded from intra-EU trade statistics (with the exception of processing trade).
Statistical Thresholds:
- Extra-EU trade threshold: Through the application of the threshold system, extra-EU trade statistics do not cover imports and exports whose value is lower than the customs threshold.
- Intra-EU trade threshold: Through the application of the threshold system, intra-EU trade statistical data are collected from any taxable person whose value of trade is considered to be above the threshold level. Below threshold data are collected via VAT declarations.
The value of trade of the party responsible for providing information is considered to be above the thresholds when the value of trade with other EU Member States during the previous year exceeds the applicable threshold, or when the cumulative value of trade with other EU Member States since the beginning of the year of application exceeds the applicable threshold, separately for each trade flow.
Frequency External trade statistics are published on a monthly and annual basis.
Data Availability External trade statistics are published on CYSTAT's portal, in the form of press releases, predefined tables and electronic publications. Customisable tables are also available on CYSTAT-DB, CYSTAT's online database (Statistical subtheme: External Trade). Relevant statistics can also be found on Eurostat's website.
The first results (provisional data) are published 40 days after the reference month, whereas the detailed data are published 70 days after the reference month.
Comparability Over Time The data are comparable over time.
Principal Variables
Statistical Value
The statistical value is the value calculated at national frontiers. It is calculated/adjusted on a FOB basis (free on board), for exports/dispatches or CIF basis (cost, insurance, freight), for imports/arrivals. Therefore, further to customs value or taxable amount, it includes only incidental expenses (freight, insurance) incurred in the part of the journey located on the territory of Cyprus from which the goods are exported (in the case of exports/dispatches) and in the part of the journey located outside the territory of Cyprus (in the case of imports/arrivals).
The statistical value is generally based on the customs value in the case of extra-EU trade, or on taxable value in the case of intra-EU trade. Under the Intrastat system, the statistical value is not provided by all the information providers. For those traders not liable to submit statistical value, the statistical value is calculated by the Statistical Service of Cyprus from the taxable/invoiced amount given in the return by the application of the adjustment coefficients.
In the case of goods imported or exported for processing, it is always the total value of the goods which is given, before and after the processing, not just the value added by the processing procedure.
Quantity measurement
Net mass
The most common unit of measurement of quantity used in the collection of trade data is the net mass, which means the actual mass of the goods excluding all packaging. It is recorded in kilograms.
Supplementary units
Supplementary units are the units measuring quantity other than the net mass (for example, litre, number of parts, square meters etc.). They have to be indicated for certain goods. The appropriate supplementary unit is given in the annual published version of the Combined Nomenclature.
Domestic and foreign goods
Domestic goods are goods originating in the economic territory of Cyprus; if they have been wholly obtained in it or were substantially transformed by processing in it, so that the processing confers domestic origin. Goods originally imported and having undergone only repair or minor operations which leave them essentially unchanged are not defined as domestic. Minor operations include packaging, bottling, cleaning, sorting etc.
Foreign goods are goods originating in the rest of the world, i.e. not produced in the economic territory of Cyprus and compensating goods obtained under the outward processing procedure when such processing confers foreign origin.
Partner Country
Exports and dispatches are classified by the country (or Member State) of final destination of the goods. The last country to which the goods are specifically directed on their outward movement from the reporting country is regarded as their final destination. This is not necessarily the country in which the good will be unshipped or that in which they will be finally consumed.
For imports (extra-EU trade), the trading partner is the country of origin. In general, goods obtained entirely from a given country originate in that country. A product, in the production of which two or more countries were involved, is considered as originating in the country in which the last substantial transformation or processing took place. Packing, repacking and sorting are not regarded as manufacturing processes.
For arrivals (intra-EU trade), the trading partner is the Member State of consignment of the goods. This is the Member State from which the goods were dispatched without halt or legal formality in another country apart from any transport reasons. Conversely, if there was such an operation in another country, that country becomes the Member State of consignment.
The United Kingdom is considered as an extra-EU partner country for the EU. Imports from the United Kingdom are recorded by country of consignment until the end of the transitory period (31 December 2020). As of January 2021 onwards, data on trade with the United Kingdom is based on a mixed concept. In application of the Withdrawal Agreement Protocol on Ireland / Northern Ireland, for trade with Northern Ireland the statistical concepts applicable are the same as those for trade between Member States (imports are recorded by country of consignment) while for trade with the United Kingdom (excluding Northern Ireland) the same statistical concepts are applicable as for trade with any other extra-EU partner country (imports are recorded by country of origin). For these reasons data on trade with the United Kingdom are not fully comparable with data on trade with other extra-EU trade partners, and for reference periods before and after the end of 2020.
Classification Systems
Product Classification
Products are disseminated according to the Harmonised Commodity Description and Coding System (HS2, HS4, HS6) and at the most detailed level of the Combined Nomenclature (CN8).
Country Classification
The classification of countries is based on the nomenclature of countries and territories, as set out in the Commission Implementing Regulation (EU) 2020/1470. From January 1999, the United Nations΄ ISO alpha-2 coding system is followed, in which each country is identified by a two-letter code.
Legal Framework The legal framework for intra-EU trade statistics is the national Intrastat Law of 2004 relating to the statistics on the trading of goods between Member States (Law 38(I)/2004) and the national Official Statistics Law of 2021 (Law No. 25(I)/2021), as well as the corresponding EU regulations.
The legal framework for extra-EU trade statistics is the national Official Statistics Law of 2021 (Law No. 25(I)/2021), as well as the corresponding EU regulations.