The trade deficit in Cyprus decreased to EUR 375.4 million in October of 2018 from EUR 716.5 million in the same month of the previous year. Exports jumped 83.6 percent to EUR 333.8 million, as sales to EU countries climbed 127.4 percent to EUR 179.2 million and the ones to countries outside the EU surged 50.1 percent to EUR 154.6 million. Meantime, imports declined 21.1 percent to EUR 709.2 million, as purchases from countries outside the EU fell 45.2 percent to EUR 253.7 million whereas those from EU countries grew 4.5 percent to EUR 455.5 million. Balance of Trade in Cyprus averaged -199307.76 EUR Thousand from 1975 until 2018, reaching an all time high of 152937 EUR Thousand in March of 2018 and a record low of -925948 EUR Thousand in May of 2016.

Balance of Trade in Cyprus is expected to be -474000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Cyprus to stand at -404890.00 in 12 months time. In the long-term, the Cyprus Balance of Trade is projected to trend around -468000.00 EUR Thousand in 2020, according to our econometric models.

Cyprus Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-12 09:10 AM Balance of Trade €-436.4M €-259.7M € -295M
2018-10-10 09:05 AM Balance of Trade €-353.9M €-456.4M € -400M
2018-11-09 10:30 AM Balance of Trade €-397.7M €-364.3M € -271M
2018-12-10 10:30 AM Balance of Trade €-375.4 €-400.0M € -692M
2019-01-09 10:00 AM Balance of Trade €-375.4
2019-02-08 10:30 AM Balance of Trade -474000
2019-03-12 10:45 AM Balance of Trade


Cyprus Trade Last Previous Highest Lowest Unit
Balance of Trade -375364.00 -399608.00 152937.00 -925948.00 EUR Thousand [+]
Exports 333821.00 263370.00 879671.00 5946.00 EUR Thousand [+]
Imports 709185.00 662978.00 1082134.00 13481.00 EUR Thousand [+]
Current Account -262.80 -128.40 395.30 -1541.40 EUR Million [+]
Current Account to GDP -6.70 -4.90 3.10 -15.50 percent [+]
Capital Flows -228.50 310.60 1701.50 -1716.40 EUR Million [+]
Remittances 13.30 16.50 34.00 1.00 EUR Million [+]
Tourism Revenues 378800.00 428200.00 428200.00 28300.00 EUR Thousand [+]
Tourist Arrivals 433617.00 520138.00 539626.00 16748.00 [+]
Gold Reserves 13.90 13.90 14.48 13.87 Tonnes [+]
Terrorism Index 1.89 2.04 3.19 0.05 [+]
External Debt 101246.80 106775.70 161624.10 90778.90 EUR Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Cyprus Balance of Trade

Trade is an integral part of the recent economic success of Cyprus, as the island nation falls short of being self-sufficient for food and fuel. As such, Cyprus is a net importer of fuels, raw materials, heavy machinery and transportation equipment. Cyprus mostly exports citrus fruits, cement, potatoes, clothing and pharmaceuticals. Cyprus' largest, and most important, trading partner is the European Union, which accounts for 50% of all Cypriot trade flows, followed by the Middle East, destination for 20% of exports from Cyprus. In the European Union, the UK and Greece account for the largest share of trade due to historical connections. Recent discoveries of offshore gas will likely diminish Cyprus' need for importing energy and lead to a shift in the composition of its exports. This page provides - Cyprus Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus Balance of Trade - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-375364.00 -399608.00 152937.00 -925948.00 1975 - 2018 EUR Thousand Monthly




Country Last Previous
Argentina 277.00 Oct/18
Australia 2316.00 Oct/18
Brazil 4062.09 Nov/18
Canada -1165.20 Oct/18
China 447.40 Nov/18
Euro Area 13141.70 Sep/18
France -4052.00 Oct/18
Germany 18300.00 Oct/18
India -17130.00 Oct/18
Indonesia -1819.90 Oct/18
Italy 1274.37 Sep/18
Japan -449.26 Oct/18
Mexico -2936.00 Oct/18
Netherlands 4949.00 Sep/18
Russia 18485.00 Sep/18
Saudi Arabia 162782.00 Jun/18
Singapore 4520.91 Oct/18
South Africa -5549.90 Oct/18
South Korea 5139.00 Nov/18
Spain -3297100.00 Sep/18
Switzerland 2637.00 Oct/18
Turkey -456.10 Oct/18
United Kingdom -3300.00 Oct/18
United States -55488.00 Oct/18


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