Nicosia:Cyprus' trade deficit expanded to £6.3 billion in the first eight months of 2026, compared to £5.48 billion during the same period in 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 revealed that in August 2026, total imports reached £1.32 billion, a 14.9% increase from £1.15 billion in August 2025. Imports from EU Member States were £569.2 million, while imports from third countries totaled £754.9 million.

In the same month, total exports rose by 17.9% year-on-year to £643.5 million, up from £545.9 million in August 2025. Exports to EU Member States were £106.8 million, while exports to third countries amounted to £536.7 million.

The August imports included a transfer of economic ownership of ships valued at £1.1 million, significantly lower than the £55 million recorded in August 2025. Exports included economic ownership transfers of ships and aircraft worth a total of £20.8 million, down from £54.3 million the previous year.

Final data for July 2026 showed total imports of goods at £1.61 billion, a 22% increase compared to £1.32 billion in July 2025. Exports of domestically produced goods, including provisions to ships and aircraft, increased by 33.4% to £510.4 million from £382.7 million in July 2025.

The value of domestic exports of manufactured products, excluding provisions to ships and aircraft, was £501.3 million, up from £372.2 million in July 2025. However, domestic exports of agricultural products 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 January to July 2026, the main categories of exports of domestically produced goods, excluding provisions to ships and aircraft, were mineral fuels and oils valued at £1,250.5 million, halloumi cheese at £233.4 million, and pharmaceutical products at £208.4 million. The Statistical Service clarified that the category of mineral fuels and oils refers to products initially imported, processed in Cyprus, and subsequently re-exported.