Cyprus recorded a trade deficit of 471932 EUR Thousand in July of 2019. Balance of Trade in Cyprus averaged -204078.22 EUR Thousand from 1975 until 2019, reaching an all time high of 152950 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 -408000.00 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 -51000.00 in 12 months time. In the long-term, the Cyprus Balance of Trade is projected to trend around -525000.00 EUR Thousand in 2020, according to our econometric models.

Cyprus Balance of Trade
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-10 09:30 AM Balance of Trade Apr €-394.4M €-386.1M €-710M
2019-07-10 09:30 AM Balance of Trade May €-441.5M €-404.9M €-410M
2019-08-09 09:15 AM Balance of Trade Jun €-503M €-451M €-49M
2019-09-09 09:00 AM Balance of Trade Jul €-471.9M €-506.3M €-470M
2019-10-10 09:05 AM Balance of Trade Aug €-471.9M €-380M
2019-11-11 10:30 AM Balance of Trade Sep €-408M
2019-12-10 10:00 AM Balance of Trade Oct €-340M

Cyprus Trade Last Previous Highest Lowest Unit
Balance of Trade -471932.00 -506285.00 152950.00 -925948.00 EUR Thousand [+]
Current Account -591.30 -1229.80 395.30 -1541.40 EUR Million [+]
Current Account to GDP -7.00 -8.40 3.10 -15.50 percent [+]
Imports 718485.00 734147.00 1082134.00 13481.00 EUR Thousand [+]
Exports 246553.00 227862.00 882891.00 5946.00 EUR Thousand [+]
Capital Flows -96.50 -713.00 1701.50 -1716.40 EUR Million [+]
Remittances 17.30 20.40 34.00 1.00 EUR Million [+]
Tourism Revenues 350400.00 277600.00 428200.00 28300.00 EUR Thousand [+]
Tourist Arrivals 553845.00 550971.00 553845.00 16748.00 Units [+]
Gold Reserves 13.90 13.90 14.48 13.87 Tonnes [+]
Terrorism Index 1.21 1.89 3.19 0.05 [+]
External Debt 101906.10 102533.24 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 September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-471932.00 -506285.00 152950.00 -925948.00 1975 - 2019 EUR Thousand Monthly

Country Last Previous
Argentina 951.00 Jul/19
Australia 7268.00 Jul/19
Brazil 3280.00 Aug/19
Canada -1124.40 Jul/19
China 348.30 Aug/19
Euro Area 24789.70 Jul/19
France -4607.00 Jul/19
Germany 21449.00 Jul/19
India -13450.00 Aug/19
Indonesia 85.10 Aug/19
Italy 7630.87 Jul/19
Japan -136.30 Aug/19
Mexico -1117.00 Jul/19
Netherlands 4127.00 Jul/19
Russia 11224.00 Jul/19
Saudi Arabia 131636.00 Mar/19
Singapore 3787.85 Aug/19
South Africa -2880.82 Jul/19
South Korea 1723.00 Aug/19
Spain -1532700.00 Jun/19
Switzerland 1152.71 Aug/19
Turkey -3191.93 Jul/19
United Kingdom -219.00 Jul/19
United States -53989.00 Jul/19