Cyprus’ trade deficit widened significantly during the first eleven months of 2025, reaching €7.28 billion, according to the latest figures released by the Statistical Service of Cyprus.

The deficit for the period January–November 2025 increased by 14.1%, or around €899 million, compared with €6.39 billion recorded in the corresponding period of 2024, underlining continued structural imbalances in the island’s external trade.

Total imports of goods between January and November 2025 rose by 9.9% year-on-year to €12.31 billion, up from €11.20 billion in the same period of 2024.

At the same time, exports of goods increased at a more moderate pace of 4.5%, reaching €5.03 billion, compared with €4.81 billion last year. The faster growth in imports relative to exports was the main driver behind the widening Cyprus trade deficit.

During the period January–October 2025, the main categories of domestically produced exports, excluding ship and aircraft supplies, were:

• Mineral fuels and oils: €2.0 billion

• Halloumi cheese: €309.7 million

• Pharmaceutical products: €289.7 million

The Statistical Service noted that mineral fuels and oils largely concern goods that were imported, processed, and re-exported, rather than domestically sourced raw materials.

Despite the negative overall picture, November 2025 showed signs of short-term improvement in external trade flows.

Preliminary data indicate that imports fell by 10.6% year-on-year to €1.04 billion, down from €1.16 billion in November 2024. Of this total:

• €595.7 million came from EU member states

• €442.7 million originated from third countries

The November figures include ship ownership transfers worth €10.0 million, sharply lower than the €138.7 million recorded in the same month last year.

On the export side, total exports rose by 6.3% to €407.1 million, compared with €382.9 million in November 2024. Exports to EU countries increased notably to €106.5 million, while exports to third countries remained broadly stable at €300.6 million.

Exports in November also included ship ownership transfers valued at €42.6 million, slightly lower than the €55.5 million recorded a year earlier.

Final figures for October 2025 reveal that imports declined by 8.9% to €1.15 billion, compared with €1.27 billion in October 2024.

However, exports of domestically produced goods, including ship and aircraft supplies, fell by 16.4% to €247.7 million.
Exports of domestic industrial products, excluding ship and aircraft supplies, dropped to €238.7 million, from €289.0 million a year earlier.

In contrast, exports of domestic agricultural products rose to €7.8 million, up from €6.1 million in October 2024. Exports of foreign products, including ship and aircraft supplies, decreased slightly to €143.3 million.