Cyprus has reported a trade deficit of €5.88 billion for the first nine months of the year, highlighting a significant gap between imports and exports. This figure, revealed by the state statistical service (Cystat) on Monday, underscores the challenges the island nation faces in balancing its trade.
- Comparing these figures to September 2024, imports from the EU saw a slight decrease, down from €633.60 million, while imports from third countries significantly increased from €352.70 million.
- The trade deficit for the first three quarters of 2025 has widened to €5.88 billion, up from €4.79 billion in 2024.
Surge in Imports Drives Trade Deficit
In September 2025, total imports of goods soared to €1.21 billion, marking a 22.5 per cent increase from €986.30 million in September 2024. This uptick is largely attributed to a rise in imports from both EU member states and third countries. Specifically, imports from EU countries reached €612.50 million, while those from other nations amounted to €595.50 million.
Comparing these figures to September 2024, imports from the EU saw a slight decrease, down from €633.60 million, while imports from third countries significantly increased from €352.70 million.
Exports Show Remarkable Growth
In stark contrast to the rising imports, Cyprus’ exports of goods also demonstrated impressive growth, amounting to €497.40 million in September 2025. This marks a substantial increase of 40.5 per cent compared to €354.10 million in the same month last year.
Exports to EU countries totalled €173.60 million, while exports to third countries reached €323.80 million, up from €113.30 million and €240.80 million, respectively, in September 2024. A notable factor in the export figures includes the transfer of economic ownership of vessels, which soared to €108 million in September 2025, up from €42.20 million the previous year.
Year-to-Date Trade Figures
When examining the period from January to September 2025, the total imports of goods reached €10.11 billion, reflecting a 15.3 per cent increase compared to €8.77 billion during the same timeframe in 2024. In terms of exports, Cyprus recorded a total of €4.23 billion, which is a 6.2 per cent rise from €3.98 billion in the corresponding period of the previous year.
The trade deficit for the first three quarters of 2025 has widened to €5.88 billion, up from €4.79 billion in 2024.
Revised Figures from August
Data for August 2025 has also been revised, showing total imports of goods at €1.12 billion, representing a 13.7 per cent increase from €981.82 million in August 2024. Exports of domestically produced products, particularly for ships and aircraft, saw a dramatic rise to €399.10 million, a remarkable increase of 105.8 per cent compared to €193.90 million the previous year. However, domestic agricultural exports dipped slightly from €6.80 million in August 2024 to €5.80 million in August 2025.
Leading Export Categories
For the period of January to August 2025, the primary categories of domestically produced goods exported included mineral fuels and oils valued at €1.67 billion, halloumi cheese at €262.90 million, and pharmaceutical products at €228.90 million. These figures illustrate the diversity and potential of Cyprus’ export market, even as the nation grapples with a significant trade deficit.
