Cyprus Trade Deficit Shrinks to Lowest Level in Nearly Two Years

Cyprus’s trade deficit narrowed sharply to €476.6 million in January 2026, down from €707.5 million a year earlier, according to preliminary estimates. This marks the smallest trade gap since a surplus was recorded in April 2024. Imports fell 13.6%, driven by lower purchases from both the EU (-4.9%) and third countries (-22.6%). Meanwhile, exports rose 16.6%, with EU-bound sales up 15.2% and shipments to third countries increasing 17%.

Cyprus’ trade deficit narrowed to EUR 713.9 million in December 2025 from EUR 1,010.1 million a year earlier. Total exports jumped 30.5% year-on-year to EUR 490.5 million, driven by higher shipments to EU countries, which surged 88.4% to EUR 182.7 million, and non-EU markets, up 10.3% to EUR 307.8 million. Exports included the transfer of economic ownership of vessels, valued at EUR 130.1 million, compared with EUR 51.4 million in December 2024. Meanwhile, total imports fell 13.1% to EUR 1,204.4 million, as non-EU imports declined sharply by 39.2% to EUR 415.1 million, while EU purchases rose 12.2% to EUR 789.3 million. Vessel transfers were valued at EUR 218.3 million, down from EUR 337.4 million a year earlier. For 2025, total imports rose 7.7% to EUR 13,551.8 million, exports gained 7.0% to EUR 5,550.4 million, widening the annual trade deficit to EUR 8,001.4 million from EUR 7,395.3 million in 2024.

Cyprus’ trade deficit narrowed notably to EUR 631.3 million in November 2025 from EUR 778.5 million in the same month a year earlier, according to preliminary estimates. This marked the smallest trade gap since August, as exports rose by 6.3% year-on-year to EUR 407.1 million, supported mainly by stronger shipments to EU countries (28.16%) and a marginal increase to non-EU markets (0.27%). Total exports included the transfer of economic ownership of vessels, amounting to EUR 42.6 million, down from EUR 55.5 million in November 2024. Meanwhile, imports fell by 10.6% year-on-year to EUR 1,038.4 million, reflecting lower purchases from both EU countries (-9.4%) and non-EU countries (-12.15%). Imports also included vessel ownership transfers worth EUR 100 million, compared with EUR 138.7 million a year earlier. For the first eleven months of 2025, Cyprus’ trade deficit widened to EUR 7,284.3 million, from EUR 6,385.1 million in the corresponding period of 2024.