The trade deficit in Cyprus widened to EUR 666 million in November 2022 from EUR 567 million in the same month last year, a preliminary estimate showed. Imports rose by 5 percent to EUR 983.5 million, as purchases were up by 9.5 percent from the EU. However, imports from non-EU countries went down by 0.9 percent. On the other hand, exports declined by 14.2 percent to EUR 317.3 million, as sales decreased in both EU countries (24 percent) and non-EU countries (10.4 percent). From January to November, the trade gap widened to EUR 6.8 billion from EUR 4.9 billion in the same period of 2021. source: Statistical Service of the Republic of Cyprus

Balance of Trade in Cyprus averaged -223237.43 EUR Thousand from 1975 until 2022, reaching an all time high of 158661.00 EUR Thousand in March of 2018 and a record low of -925949.00 EUR Thousand in May of 2016. This page provides - Cyprus Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.

Balance of Trade in Cyprus is expected to be -360000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cyprus Balance of Trade is projected to trend around -370000.00 EUR Thousand in 2024 and -365000.00 EUR Thousand in 2025, according to our econometric models.

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Cyprus Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-12-12 10:00 AM Oct €-502M €-575M €-683M
2023-01-09 10:30 AM Nov €-666M €-494M
2023-02-09 10:00 AM Dec €-666M € -360M


Related Last Previous Unit Reference
Balance of Trade -666220.00 -494018.00 EUR Thousand Nov 2022
Imports 983501.00 910042.00 EUR Thousand Nov 2022
Exports 317281.00 416024.00 EUR Thousand Nov 2022
Tourist Arrivals 110041.00 149857.00 Dec 2022
Tourism Revenues 319800.00 348300.00 EUR Thousand Oct 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
-666220.00 -494018.00 158661.00 -925949.00 1975 - 2022 EUR Thousand Monthly

News Stream
Cyprus Trade Gap Widens in November
The trade deficit in Cyprus widened to EUR 666 million in November 2022 from EUR 567 million in the same month last year, a preliminary estimate showed. Imports rose by 5 percent to EUR 983.5 million, as purchases were up by 9.5 percent from the EU. However, imports from non-EU countries went down by 0.9 percent. On the other hand, exports declined by 14.2 percent to EUR 317.3 million, as sales decreased in both EU countries (24 percent) and non-EU countries (10.4 percent). From January to November, the trade gap widened to EUR 6.8 billion from EUR 4.9 billion in the same period of 2021.
2023-01-09
Cyprus Trade Gap Widens in October
The trade deficit in Cyprus widened to EUR 501.6 million in October 2022 from EUR 260.9 million in the same month last year, a preliminary estimate showed. Imports climbed 24.6 percent to EUR 901.5 million, as purchases were up by 12 percent from the EU and by 52.5 percent from non-EU countries. On the other hand, exports fell 13.5 percent to EUR 399.9 million, dragged by a 17.8 percent plunge in sales to non-EU countries. Exports to the EU, however, were up 9.3 percent. From January to October, the trade gap widened to EUR 6.17 billion from EUR 4.34 billion in the same period of 2021.
2022-12-12
Cyprus Trade Gap Widens in August
The trade deficit in Cyprus widened to EUR 689.7 million in August of 2022 from a EUR 422.5 million gap a year earlier. Compared to the August 2021, exports decreased 10.4 percent year-on-year to EUR 254.3 million, as sales to third countries decreased to EUR 177,6 million from EUR 230,2 million whereas to EU countries increased to EUR 76.7 million from EUR 53,6 million. Meanwhile, imports increased to 33,7% year-on-year to EUR 944 million, as purchase from EU countries went up EUR 601.8 million from EUR 458.8 million, while those from third countries rise to EUR 342.2 million from EUR 247.4 million.
2022-10-10