Cyprus Balance of Trade

Last Release

Aug 31, 2025

Actual

-566,887

Units In

EUR Thousand

-699,388

Frequency

Monthly

Next Release

Nov 10, 2025

Time to Release

29 Days 9 Hours

Highest	Lowest	Average	Date Range	Source
158,661 Mar 2018	-1,393,337 Jan 2023	-247,082.53 EUR Thousand	1975-2025	Statistical Service of the Republic of Cyprus

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.

Latest Updates

Cyprus’ trade deficit narrowed to €566.9 million in August 2025 from €691.0 million a year earlier, as exports recorded strong growth while imports increased at a moderate pace. Exports jumped 82.7% year-on-year to €531.3 million, driven by higher shipments to both the EU (€74.4 million vs €73.7 million in August 2024) and third countries (€456.9 million vs €217.1 million). The rise also reflected a sharp increase in vessel transfers, valued at €41.4 million compared with €11.0 million a year earlier. Meanwhile, imports grew 11.9% to €1,098.2 million, supported by stronger purchases from the EU (€590.3 million vs €585.6 million) and non-EU countries (€507.9 million vs €396.2 million), including vessel transfers worth €34.4 million (vs €2.4 million). For the January–August period, the trade deficit widened to €5,155.4 million from €4,154.8 million a year earlier, as imports climbed 14.2% to €8,884.6 million, outpacing a 2.8% increase in exports to €3,729.2 million.