Cyprus trade deficit reaches €6.3 billion in the first eight months

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Cyprus’ trade deficit reached €6.3 billion in the first eight months of 2026, as imports continued to outpace exports, according to data published by the Cyprus Statistical Service (Cystat).

The trade deficit stood at €6.303 billion between January and August, compared with €5.484 billion in the same period of 2025.

Total imports rose by 10.9% year on year to €10.257 billion, while exports increased by 5% to €3.954 billion.

Imports and exports rise in August

Total imports of goods reached €1.324 billion in August 2026, up 14.9% from €1.152 billion in August 2025.

Imports from other European Union member states amounted to €569.2 million, compared with €630.6 million a year earlier. Imports from third countries increased to €754.9 million, from €521.5 million.

Total exports rose by 17.9% year on year to €643.5 million in August, compared with €545.9 million in August 2025.

Exports to other EU member states reached €106.8 million, up from €76 million, while exports to third countries increased to €536.7 million from €469.9 million.

August figures include the transfer of economic ownership of vessels worth €1.1 million among imports, compared with €55 million a year earlier. Exports included vessels and aircraft worth €20.8 million, down from €54.3 million in August 2025.

July figures show higher imports and exports

Final data for July 2026 show that imports reached €1.613 billion, an increase of 22% compared with €1.322 billion in July 2025.

Exports totalled €669.5 million in July, compared with €566.9 million a year earlier, according to the figures in the published table.

Exports of domestically produced goods, including stores and provisions for ships and aircraft, rose by 33.4% to €510.4 million.

Domestic exports of industrial products, excluding stores and provisions for ships and aircraft, reached €501.3 million, compared with €372.2 million in July 2025. Exports of agricultural products in the same category fell to €7.8 million from €8.7 million.

Exports of foreign goods, including stores and provisions for ships and aircraft, declined by 13.7% to €159 million.

Mineral fuels lead domestic export categories

Between January and July 2026, the main categories of domestic exports, excluding stores and provisions for ships and aircraft, were mineral fuels and oils, halloumi cheese and pharmaceutical products.

Mineral fuels and oils accounted for €1.251 billion, followed by halloumi cheese at €233.4 million and pharmaceutical products at €208.4 million.

Cystat notes that the mineral fuels and oils category includes products initially imported, processed and then re-exported.

August 2026 trade figures remain provisional, while several earlier monthly figures have been revised.

With information from gov.cy.


Also read: Cost of living crisis hits lower-income households hardest
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