Cyprus Balance of Trade

Last Release

May 31, 2025

Actual

-682,093

Units In

EUR Thousand

-765,900

Frequency

Monthly

Next Release

Aug 11, 2025

Time to Release

30 Days 11 Hours

Highest	Lowest	Average	Date Range	Source
158,661 Mar 2018	-1,393,337 Jan 2023	-245,209.43 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 EUR 682.1 million in May 2025 from EUR 716.4 million in the corresponding month of the previous year. Total imports fell by 5.5% year-on-year to EUR 1,001.8 million, amid reduced purchases from both non-EU countries (-5.9%) and the EU (-5.2%). Meanwhile, exports declined by 7% to EUR 319.7 million, mainly due to a 15.7% drop in shipments to non-EU countries. In contrast, exports to the EU increased by 16.1%.