The trade deficit in Cyprus narrowed sharply to EUR 453.5 million in December of 2019 from a EUR 690.9 million gap a year earlier. Exports jumped 49 percent year-on-year to EUR 249.2 million, mainly boosted by sales to the EU (+76 percent). Those to countries outside the EU rose 32 percent. Imports slumped 18 percent to EUR 702.7 million, as purchases from the EU shrank 33 percent and those from countries outside the EU edged down 0.6 percent. Considering full 2019, the country trade gap increased to EUR 5106 million from EUR 4891 million in 2018.

Balance of Trade in Cyprus averaged -206309.03 EUR Thousand from 1975 until 2019, reaching an all time high of 158661 EUR Thousand in March of 2018 and a record low of -925948 EUR Thousand in May of 2016. This page provides - Cyprus Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Statistical Service of the Republic of Cyprus

Balance of Trade in Cyprus is expected to be 31000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Cyprus to stand at -528000.00 in 12 months time. In the long-term, the Cyprus Balance of Trade is projected to trend around -525000.00 EUR Thousand in 2021, according to our econometric models.


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Cyprus Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-453472.00 -426128.00 158661.00 -925948.00 1975 - 2019 EUR Thousand Monthly


Calendar GMT Actual Previous Consensus TEForecast
2019-11-11 10:30 AM Sep €-493.8M €-390.5M €-408M
2019-12-10 10:00 AM Oct €-440.5M €-497M €-340M
2020-01-09 10:00 AM Nov €-411.6M €-453.7M
2020-02-10 10:00 AM Dec €-453.5M €-426.1M € -675M
2020-03-11 10:00 AM Jan €-453.5M
2020-04-09 09:00 AM Feb
2020-05-11 09:00 AM Mar € -89M
2020-06-09 09:00 AM Apr


News Stream
Cyprus Trade Gap Falls in December
The trade deficit in Cyprus narrowed sharply to EUR 453.5 million in December of 2019 from a EUR 690.9 million gap a year earlier. Exports jumped 49 percent year-on-year to EUR 249.2 million, mainly boosted by sales to the EU (+76 percent). Those to countries outside the EU rose 32 percent. Imports slumped 18 percent to EUR 702.7 million, as purchases from the EU shrank 33 percent and those from countries outside the EU edged down 0.6 percent. Considering full 2019, the country trade gap increased to EUR 5106 million from EUR 4891 million in 2018.
2020-02-10
Cyprus Trade Gap Falls in November
The trade deficit in Cyprus narrowed sharply to EUR 411.6 million in November of 2019 from a EUR 764.9 million gap a year earlier. Exports jumped 13 percent year-on-year to EUR 236.6 million, mainly boosted by sales to countries outside the EU (+42 percent) while those to the EU fell 23 percent. Imports slumped 33.5 percent to EUR 648.2 million, as purchases from countries outside the EU dropped 60.5 percent while those from the EU increased 1 percent.
2020-01-09
Cyprus Trade Deficit Widens as Exports Slump
The Cyprus trade deficit rose to EUR 493.8 million in September 2019 from EUR 415.4 million in the same month of the previous year, as exports slumped 18.9 percent to EUR 218.5 million, the lowest since March. Meantime, imports rose 4 percent from a year earlier to EUR 712.3 million.
2019-11-11
Cyprus Trade Balance Swings to Deficit in March
Cyprus posted a trade deficit of EUR 374 million in March 2019, compared to a EUR 730 million surplus in the same month of the previous year. Exports plunged 75.9 percent to EUR 213 million, with sales to countries outside the EU falling 86.1 percent while those to the EU rose 24.4 percent. Meanwhile, imports dropped at a softer 19.5 percent to EUR 587 million, as purchases declined from non-EU countries (-54.7 percent). Imports from the EU, however, increased 10.9 percent. Considering the first quarter of 2019, the trade deficit surged to EUR 1,032 million from EUR 685 million in the same period last year.
2019-05-10

Cyprus Balance of Trade
Trade is an integral part of the recent economic success of Cyprus, as the island nation falls short of being self-sufficient for food and fuel. As such, Cyprus is a net importer of fuels, raw materials, heavy machinery and transportation equipment. Cyprus mostly exports citrus fruits, cement, potatoes, clothing and pharmaceuticals. Cyprus' largest, and most important, trading partner is the European Union, which accounts for 50% of all Cypriot trade flows, followed by the Middle East, destination for 20% of exports from Cyprus. In the European Union, the UK and Greece account for the largest share of trade due to historical connections. Recent discoveries of offshore gas will likely diminish Cyprus' need for importing energy and lead to a shift in the composition of its exports.