Cyprus' trade deficit increased by 2.3% in the period from January to May 2025 compared to the same period in 2024, reaching €3.256 billion, up from €3.1805 billion, according to preliminary data released Thursday by the Statistical Service of Cyprus.

Total imports of goods for the January–May 2025 period amounted to €5.372 billion, compared to €4.7256 billion during the same months in 2024 — a 13.7% increase.

Meanwhile, total exports of goods also rose significantly, reaching €2.116 billion in the first five months of 2025, compared to €1.5451 billion in the same period last year, reflecting a 36.9% increase.

Preliminary data for May 2025 indicates that total imports stood at €1.0018 billion, compared to €1.0601 billion in May 2024 — a 5.5% decline.

Imports from EU Member States totaled €596.3 million, while those from third countries amounted to €405.5 million, down from €629.4 million and €430.7 million respectively in May 2024. May 2025 imports included the transfer of economic ownership of ships valued at €4.6 million, compared to €88.1 million in May 2024.

Total exports of goods in May 2025 reached €319.7 million, compared to €343.6 million in May 2024 — a 7% decrease.

Exports to EU Member States were €109.2 million, and to third countries €210.5 million, compared to €94 million and €249.6 million respectively in May 2024. May 2025 exports included ship ownership transfers worth €6.8 million, down from €68.6 million in May 2024.

The Statistical Service also released final data for Cyprus’ foreign trade in April 2025.

Total imports of goods in April 2025 reached €1.1617 billion, up from €1.1068 billion in April 2024, marking a 5% increase.

Exports of domestically produced goods, including provisions for ships and aircraft, were €277 million in April 2025, compared to €221.3 million in April 2024 — a 25.2% increase.

• The value of industrial exports (excluding ships and aircraft supplies) reached €262.5 million, up from €205.6 million in April 2024.

• The value of agricultural exports (excluding ships and aircraft supplies) stood at €13.4 million, compared to €14.5 million in April 2024.

Exports of foreign products, including provisions for ships and aircraft, amounted to €113.7 million in April 2025, down from €131.1 million in April 2024 — a 13.3% decrease.