According to preliminary data from the Cyprus Statistical Service, Cyprus’ trade deficit dropped by 17.4%, or €1.18 billion, on an annual basis from January to September 2024. The trade deficit for this period amounted to €5.598 billion, down from €6.780 billion in the same period in 2023.

From January to September 2024, total imports reached €8.539 billion, a decrease of 15.2% compared to €10.070 billion for the same period in 2023. Exports of goods during this timeframe fell by 10.6%, totaling €2.941 billion in 2024, compared to €3.289 billion in 2023.

In September 2024 alone, imports were valued at €944.2 million, marking a 14.3% decline from €1.101 billion in September 2023. Imports from other EU member states amounted to €592.9 million, while imports from non-EU countries stood at €351.3 million. This includes ship ownership transfers valued at €28.9 million, a significant increase from €7.9 million in September 2023.

Exports for September 2024 totaled €350.2 million, down 21.2% from €444.2 million in September 2023. Exports to other EU countries were €109.6 million, while exports to non-EU countries reached €240.6 million.

Meanwhile, government employment in Cyprus showed a 3.4% increase in the January–October period, averaging 54,128 employees. In October 2024, government employment reached 54,884, a rise of 1,784 employees compared to the same period in 2023.

This increase is largely attributed to a boost in temporary staff in the Educational Service, as the Ministry of Education, Sports, and Youth abolished the service-purchasing system in support programs for the 2023–2024 school year.

As of October 2024, the Civil Service employed 12,045 permanent staff, 4,199 indefinite contract employees, 1,219 fixed-term contract employees, and 5,883 hourly wage workers. Permanent employees represented the largest share (51.6%), while fixed-term employees accounted for the smallest portion (5.2%).

The Educational Service employed 12,396 permanent staff, 996 indefinite contract employees, 4,150 fixed-term contract employees, and 144 hourly wage workers, with permanent staff making up 70.1% and hourly wage workers 0.8% of the workforce.

In the Security Forces, 8,328 permanent employees, 4,479 indefinite contract employees, 294 fixed-term contract employees, and 751 hourly wage workers were employed, with permanent staff representing 60.1% of the workforce.