Cyprus' Trade Deficit Expands
Imports and Exports Surge in June–July with Deficit Widening
Imports and exports of goods recorded significant increases in June and July 2025 compared with the same months of 2024. Substantial growth was also noted on an annual basis for the first seven months of the year.
The trade deficit reached €4,567.4 million in January–July 2025, compared with €4,388.1 million in the same period of 2024.
July 2025: Sharp Rise in Trade Volumes
According to preliminary data from the Statistical Service, total imports of goods in July 2025 stood at €1,263.7 million, up 18.5% from €1,066.5 million in July 2024. Imports from other EU member states totaled €709.3 million, while imports from third countries reached €554.4 million, compared with €645.5 million and €421.0 million respectively in July 2024. July imports included ship ownership transfers worth €8.7 million, down from €12.6 million in July 2024.
Total exports of goods in July 2025 reached €564.3 million, marking a 72.7% increase from €326.8 million in July 2024. Exports to EU countries amounted to €170.7 million, while exports to third countries reached €393.6 million, compared with €102.0 million and €224.8 million respectively in July 2024. Exports in July included ship ownership transfers worth €89.9 million, up from €20.4 million a year earlier.
January–July 2025: Trade Deficit Expands
During the first seven months of 2025, total imports of goods amounted to €7,760.9 million compared with €6,712.4 million in the same period of 2024, an increase of 15.6%. Total exports reached €3,193.5 million versus €2,324.3 million in January–July 2024, marking a 37.4% rise. Despite this growth, the trade deficit widened to €4,567.4 million from €4,388.1 million last year.
June 2025: Domestic Exports Drive Growth
Final figures show that total imports in June 2025 stood at €1,122.8 million, compared with €920.3 million in June 2024, recording a 22.0% increase.
Exports of domestically produced goods, including ship and aircraft supplies, reached €347.0 million in June 2025, compared with €190.1 million in June 2024—an 82.5% surge.
Exports of domestic industrial products (excluding ship and aircraft supplies) amounted to €336.2 million, compared with €178.2 million in June 2024. Agricultural product exports totaled €9.7 million, slightly down from €10.7 million in June 2024.
Meanwhile, exports of foreign products, including ship and aircraft supplies, dropped sharply to €164.5 million in June 2025, compared with €262.4 million in June 2024—a 37.3% decrease.