Cyprus Posts Largest Trade Deficit in Over a Year

2026-06-09 10:00 By Erika Ordonez 1 min. read

Cyprus’ trade deficit widened to EUR 1,007.0 million in April 2026 from EUR 797.2 million a year earlier, according to preliminary estimates.

This marked the largest trade deficit since December 2024, as imports rose while exports fell.

Total imports jumped 15.1% year-on-year to an over one-year high of EUR 1,370.7 million, lifted by higher purchases from non-EU countries, which climbed 61.2%, while EU imports decreased 12.9%.

Imports included the transfer of economic ownership of vessels valued at EUR 240.4 million, up from EUR 146.2 million in April last year.

Meanwhile, total exports declined 7.6% to EUR 363.6 million, weighed by reduced shipments to non-EU countries, which dropped 14.2%, offsetting an increase in exports to EU markets of 9.6%.

Vessel transfers were valued at EUR 33.8 million, compared with EUR 32.8 million in April 2025.

From January to April 2026, the trade shortfall increased to EUR 3,057.1 million from EUR 2,674.6 million in the corresponding period of 2025.



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Cyprus Posts Largest Trade Deficit in Over a Year
Cyprus’ trade deficit widened to EUR 1,007.0 million in April 2026 from EUR 797.2 million a year earlier, according to preliminary estimates. This marked the largest trade deficit since December 2024, as imports rose while exports fell. Total imports jumped 15.1% year-on-year to an over one-year high of EUR 1,370.7 million, lifted by higher purchases from non-EU countries, which climbed 61.2%, while EU imports decreased 12.9%. Imports included the transfer of economic ownership of vessels valued at EUR 240.4 million, up from EUR 146.2 million in April last year. Meanwhile, total exports declined 7.6% to EUR 363.6 million, weighed by reduced shipments to non-EU countries, which dropped 14.2%, offsetting an increase in exports to EU markets of 9.6%. Vessel transfers were valued at EUR 33.8 million, compared with EUR 32.8 million in April 2025. From January to April 2026, the trade shortfall increased to EUR 3,057.1 million from EUR 2,674.6 million in the corresponding period of 2025.
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Cyprus Trade Shortfall Widens in March
Cyprus’ trade deficit widened to EUR 703.8 million in March 2026 from EUR 609.7 million a year earlier. Total imports jumped 11.6% year-on-year to EUR 1,210.7 million, lifted by higher purchases from EU countries, which rose 9.6% to EUR 710 million, and non-EU imports advancing by 14.6% to EUR 500.7 million. Imports included the transfer of economic ownership of vessels valued at EUR 20.3 million, down from EUR 84.2 million in March last year. Meanwhile, total exports increased by 6.7% to EUR 506.9 million, driven by higher shipments to EU countries, which grew by 8.4% to EUR 117.7 million, and non-EU markets, up 6.2% to EUR 389.2 million. Vessel transfers were valued at EUR 41.2 million, compared with EUR 98.1 million in March 2025.
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Cyprus Trade Deficit Widens
Cyprus recorded a trade deficit of €871.2 million in February of 2026, widening form the €560.2 million gap in the corresponding period of the previous year amid a plunge in exports. Exports sank to €244.3 million from €496.2 million, marking the lowest in five years amid a plunge in exports to countries outside the EU. In turn, imports rose to €1.115 billion form €1.056 billion.
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