The trade deficit in Cyprus rose to EUR 656.5 million in December of 2018 from EUR 492.4 million in the same month of the previous year. Exports slumped 29.7 percent from a year earlier to EUR 163.7 million, as sales declined to both non-EU countries (-30.9 percent to EUR 104.7 million) and EU countries (-27.4 percent to EUR 58.9 million). Meanwhile, imports advanced 13.1 percent to EUR 820.1 million, as purchases jumped from non-EU countries (61.8 percent to EUR 440.1 million) whereas those from EU countries decreased (-16.2 percent from EUR 380.0 million). Considering full 2018, the trade gap narrowed to EUR 4,848.8 million from EUR 5,247.8 million in 2017, as exports surged 43.0 percent to EUR 4,245.5 million while imports rose at a softer 10.7 percent to EUR 9,094.3 million. Balance of Trade in Cyprus averaged -201249.65 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 -450000.00 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 -469000.00 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
2018-11-09 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 10:30 AM Balance of Trade €-751.2M €-388.6M
2019-02-11 10:30 AM Balance of Trade €-656.5M €-753.5M € -425M
2019-03-12 10:30 AM Balance of Trade €-656.5M
2019-04-09 09:30 AM Balance of Trade
2019-05-10 09:30 AM Balance of Trade


Cyprus Trade Last Previous Highest Lowest Unit
Balance of Trade -656460.00 -753486.00 152937.00 -925948.00 EUR Thousand [+]
Current Account 52.00 -262.80 395.30 -1541.40 EUR Million [+]
Current Account to GDP -8.40 -5.10 3.10 -15.50 percent [+]
Imports 820117.00 959559.00 1082134.00 13481.00 EUR Thousand [+]
Exports 163657.00 206073.00 879671.00 5946.00 EUR Thousand [+]
Capital Flows 344.00 -228.50 1701.50 -1716.40 EUR Million [+]
Remittances 13.00 13.30 34.00 1.00 EUR Million [+]
Tourism Revenues 293800.00 378800.00 428200.00 28300.00 EUR Thousand [+]
Tourist Arrivals 81970.00 106563.00 539626.00 16748.00 [+]
Gold Reserves 13.90 13.90 14.48 13.87 Tonnes [+]
Terrorism Index 1.21 1.89 3.19 0.05 [+]
External Debt 103957.21 101246.80 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 February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-656460.00 -753486.00 152937.00 -925948.00 1975 - 2018 EUR Thousand Monthly




Country Last Previous
Argentina 372.00 Jan/19
Australia 3681.00 Dec/18
Brazil 2190.00 Jan/19
Canada -2060.10 Nov/18
China 391.60 Jan/19
Euro Area 16990.70 Dec/18
France -4653.00 Dec/18
Germany 13900.00 Dec/18
India -14730.00 Jan/19
Indonesia -1159.50 Jan/19
Italy 3658.00 Dec/18
Japan -1415.36 Jan/19
Mexico 1836.32 Dec/18
Netherlands 3572.00 Dec/18
Russia 18856.00 Dec/18
Saudi Arabia 184673.00 Sep/18
Singapore 2415.21 Jan/19
South Africa 17167.41 Dec/18
South Korea 1336.00 Jan/19
Spain -3247399.00 Dec/18
Switzerland 1388.18 Jan/19
Turkey -2674.41 Dec/18
United Kingdom -3229.00 Dec/18
United States -49313.00 Nov/18


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