Cyprus’s trade deficit widened by €606 million in 2025 to reach €8 billion, driven by a nearly €1 billion surge in imports despite rising exports, preliminary data from the Statistical Service shows.
The deficit climbed to €8,001.4 million for January-December 2025 from €7,395.3 million in the same period of 2024, as total imports jumped 7.7% to €13,551.8 million from €12,582.0 million.
Exports also grew, rising 7.0% to €5,550.4 million from €5,186.7 million, but failed to offset the import surge.
December saw a sharp reversal, with imports falling 13.1% to €1,204.4 million from €1,386.1 million a year earlier, whilst exports surged 30.5% to €490.5 million from €376.0 million.
The December import decline was partly driven by lower ship transfers, which totalled €218.3 million compared to €337.4 million in December 2024.
Imports from EU member states reached €789.3 million in December, whilst imports from third countries dropped to €415.1 million from €682.7 million a year earlier.
December exports to EU countries nearly doubled to €182.7 million from €97.0 million, whilst exports to third countries rose to €307.8 million from €279.0 million. Ship transfers in exports climbed to €130.1 million from €51.4 million.
Final data for November showed imports fell 10.1% to €1,043.9 million from €1,161.4 million a year earlier, whilst domestic exports including ship and aircraft supplies rose 16.1% to €283.9 million from €244.5 million.
Industrial exports reached €276.6 million in November, up from €237.1 million, whilst agricultural exports slipped to €6.2 million from €6.4 million. Foreign product exports rose 4.7% to €144.9 million from €138.4 million.
The top export categories for January-November 2025, excluding ship and aircraft supplies, were mineral fuels and oils at €2,188.0 million, halloumi at €332.2 million, and pharmaceutical products at €318.0 million.
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