Devalued Lira and pandemic hit imports to North Cyprus

Imports into North Cyprus have come to a virtual standstill, with the exception of food imports, due to coronavirus pandemic and the depreciation of the Turkish Lira against foreign exchange.

According report by Yeniduzen, business circles operating in Famagusta Port said; imports - exports declined significantly due to coronavirus pandemic and the depreciation of the Turkish Lira as this was visible.

They stated that both issues compounded the situation bringing the market to a standstill.

The directors of the company dealing with maritime and crane services stated that no product other than food is imported at the moment.

A representative of a shipping company said that normally cranes would be operating 3-4 times a week, now operations have dropped to between 1-2 times weekly.

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