10 November 2025, 13:02

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Cyprus trade deficit hits €5.88 billion despite export growth

Cyprus trade deficit hits €5.88 billion despite export growth

Cyprus’ trade deficit for the first nine months of the year grew to €5.88 billion, according to provisional data released on Monday by the state statistical service (Cystat).

Total imports of goods in September 2025 reached €1.21 bn, compared to €986.30 million in September 2024, marking an increase of 22.5 per cent.

Imports from other EU member states stood at €612.50m, while imports from third countries stood at €595.50m.

This compares to September 2024 figures of €633.60m and €352.70m respectively.

The September 2025 imports figure includes the transfer of economic ownership of vessels, with a total value of €35.60m, up from €30.40m in September 2024.

Total exports of goods in September 2025 stood at €497.40m, recording a significant increase of 40.5 per cent compared to the €354.10m seen in September 2024.

Exports to other EU member states stood at €173.60m, and exports to third countries reached €323.80m.

This compares to €113.30m and €240.80m respectively in September 2024.

The September 2025 exports figure also includes the transfer of economic ownership of vessels, valued at €108.00m, a notable rise from €42.20m in September 2024.

The statistical service pointed out that data for September 2025 are provisional.

For the period from January to September 2025, total imports of goods amounted to €10.11 bn, an increase of 15.3 per cent compared to €8.77 bn in the corresponding period of 2024.

Total exports of goods for the same period were €4.23 bn, registering an increase of 6.2 per cent compared to €3.98 bn in January–September 2024.

The trade deficit for January–September 2025 grew to €5.88 bn, up from €4.79 bn in the corresponding period of 2024.

Total imports of goods in August 2025 amounted to €1.12 bn, an increase of 13.7 per cent compared to the €981.82m recorded in August 2024.

The statistical service also explained that data on imports and exports for August 2025 have been revised.

Exports of domestically produced products, including stores and provisions for ships and aircraft, reached €399.10m in August 2025, showing a substantial increase of 105.8 per cent compared to €193.90m in August 2024.

Domestic exports of industrial products, excluding stores and provisions for ships and aircraft, reached €392.60m in August 2025, up from €186.40m in August 2024.

Conversely, domestic exports of agricultural products, excluding stores and provisions for ships and aircraft, saw a minor dip, at €5.80m in August 2025 compared to €6.80m in August 2024.

Exports of foreign products, including stores and provisions for ships and aircraft, rose to €132.40m in August 2025, an increase of 36.6 per cent compared to €96.90m in August 2024.

The main categories of exports of domestically produced goods for the period January–August 2025 (excluding stores and provisions for ships and aircraft) were mineral fuels and oils with a value of €1.67 bn, halloumi cheese with €262.90m, and pharmaceutical products with €228.90m.

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