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.