Cyprus Trade Deficit Widens in May

Cyprus’ trade deficit widened to EUR 788.7 million in May 2026 from EUR 742.4 million in the same month a year earlier, according to preliminary estimates. Imports advanced 22.3% year-on-year to EUR 1,309.1 million, driven largely by higher purchases from both EU and non-EU countries, which rose 13.4% to EUR 705 million and 34.7% to EUR 604.1 million, respectively. Imports included the transfer of economic ownership of vessels valued at EUR 79.9 million, up from EUR 40.4 million in May last year. Meanwhile, total exports jumped 58.9% to EUR 520.4 million, lifted by an increase of shipments to both EU (+9.3% to EUR 127.3 million) and non-EU countries (+86.2% to EUR 393.1 million). Vessel transfers were valued at EUR 34.8 million from EUR 7.5 million in the corresponding period of 2025. For the January–May period, the trade shortfall increased to EUR 3,840.1 million from EUR 3,417.0 million a year earlier.

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.

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.