Siena:The trade deficit of Cyprus increased to £6.30 billion in the first eight months of 2026, up from £5.48 billion in the same period of 2025, driven by a 10.9% rise in imports to £10.26 billion and a 5% increase in exports to £3.95 billion.

According to Cyprus News Agency, preliminary data from the Statistical Service indicated that total imports of goods in August 2026 reached £1.32 billion, a 14.9% rise compared to £1.15 billion in August 2025. Of these, imports from EU Member States were £569.2 million, and imports from third countries amounted to £754.9 million.

The total exports of goods in August 2026 saw a 17.9% year-on-year increase to £643.5 million, up from £545.9 million in the previous year. Exports to EU Member States were valued at £106.8 million, while exports to third countries reached £536.7 million. August's imports included the transfer of economic ownership of ships worth £1.1 million, a decrease from £55 million in August 2025. Exports for the same period included transfers of economic ownership of ships and aircraft valued at £20.8 million, down from £54.3 million a year earlier.

In July 2026, total imports rose to £1.61 billion, marking a 22% increase from £1.32 billion in July 2025. Exports of domestically produced goods, including provisions to ships and aircraft, climbed by 33.4% to £510.4 million compared to £382.7 million the previous year. Manufactured product exports reached £501.3 million, up from £372.2 million, while agricultural product exports fell to £7.8 million from £8.7 million.

Exports of foreign products, including provisions to ships and aircraft, decreased by 13.7% to £159 million from £184.2 million in July 2025. For the January-July 2026 period, the main export categories of domestically produced goods, excluding provisions to ships and aircraft, were mineral fuels and oils at £1,250.5 million, halloumi cheese at £233.4 million, and pharmaceutical products at £208.4 million. The category of mineral fuels and oils includes products initially imported, processed in Cyprus, and subsequently re-exported.