Cyprus recorded a €213 million annual reduction in its trade deficit in 2024, reaching €8.25 billion compared to €8.47 billion in 2023 and €7.12 billion in 2022. However, the trade deficit for January 2025 increased by €127.5 million, reaching €682.7 million, up from €555.2 million in January 2024.

According to preliminary data from the Statistical Service, total imports of goods in January 2025 stood at €1.12 billion, marking a 28.9% increase from €867 million in January 2024.

• Imports from other EU Member States reached €561.4 million, while imports from non-EU countries amounted to €556.4 million, compared to €522.1 million and €344.9 million, respectively, in January 2024.
• The transfer of economic ownership of ships accounted for €70.8 million of total imports in January 2025, compared to €65.6 million in January 2024.

Total exports of goods in January 2025 increased by 39.5%, reaching €435.1 million, up from €311.8 million in January 2024.

• Exports to EU Member States amounted to €79.4 million, while exports to non-EU countries totaled €355.7 million, compared to €133.2 million and €178.6 million, respectively, in January 2024.
• The transfer of economic ownership of ships represented €11.3 million of total exports in January 2025, down from €62.3 million in January 2024.

Final data from the Statistical Service show that total imports in December 2024 were €1.34 billion, a 40.6% increase from €954.1 million in December 2023.

• Exports of domestically produced goods, including ship and aircraft supplies, reached €248 million in December 2024, up 13.7% from €218.1 million in December 2023.
• The value of domestic industrial exports (excluding ship and aircraft supplies) was €237.4 million, compared to €209.4 million in December 2023.
• The value of domestic agricultural exports (excluding ship and aircraft supplies) reached €9 million, up from €7.8 million in December 2023.
• Exports of foreign goods, including ship and aircraft supplies, fell to €119.9 million in December 2024, a 31.2% decrease from €174.3 million in December 2023.