Nicosia: Cyprus’ trade deficit widened in the first ten months of 2025, increasing by pound 1.04 billion compared with the same period last year, driven primarily by a double-digit rise in imports, according to preliminary data released by the Statistical Service of Cyprus.
According to Cyprus News Agency, the deficit reached pound 6.65 billion between January and October 2025, up from pound 5.61 billion in the corresponding period of 2024. The deterioration reflects a 12.3% jump in total imports, which climbed to pound 11.27 billion from pound 10.03 billion a year earlier-an increase of pound 1.23 billion.
Exports also rose, but at a considerably slower pace. Total goods exports for the ten-month period were pound 4.62 billion, an annual increase of 4.3% from pound 4.43 billion in 2024.
Imports and Exports Decline in October
For October alone, preliminary figures show a contraction in both imports and exports. Imports fell 8.9% year-on-year to pound 1.15 billion, compared with pound 1.27 billion in October 2024. Imports from EU member states stood at pound 654.8 million, compared with pound 653.2 million a year earlier, while imports from non-EU countries dropped to pound 498.5 million from pound 613.3 million.
The October import bill included pound 106.5 million in ship transfers, up from pound 82.5 million in October 2024, a recurring factor that often influences monthly trade flows due to Cyprus’ large shipping sector.
Exports in October dropped 13% year-on-year to pound 388.9 million, from pound 446.8 million in the same month of 2024. Exports to EU member states rose to pound 108.6 million from pound 95.2 million, but shipments to non-EU markets fell significantly to pound 280.3 million from pound 351.6 million. Ship transfers amounted to pound 46.1 million, compared with pound 52.9 million a year earlier.
Final data for September paint a stronger picture, with both imports and exports recording sizable increases. Imports surged 22.8% to pound 1.21 billion, compared with pound 986.3 million in September 2024. Domestically produced exports-including supplies to ships and aircraft-jumped 44.8% to pound 300.2 million, from pound 207.3 million a year earlier.
Industrial exports excluding ship and aircraft stores rose to pound 291.9 million from pound 199.3 million, while agricultural exports edged up to pound 7.1 million from pound 6.8 million. Exports of foreign goods, including ship and aircraft supplies, reached pound 197.6 million, up 34.6% year-on-year.
Key Export Categories
For the period January-September 2025, the leading categories of domestically produced exports (excluding ship and aircraft supplies) were mineral fuels and oils with pound 1.86 billion, halloumi cheese pound 288.3 million, and pharmaceutical products pound 259.5 million.