Nicosia: The trade deficit for the period of January to May 2025 recorded an increase of 2.3%, compared to the same period in 2024, rising from pound 3,180.5 million to pound 3,256 million, according to provisional data provided by the Statistical Service.
According to Cyprus News Agency, total imports of goods in January-May 2025 amounted to pound 5,372 million, compared to pound 4,725.6 million in the same period of the previous year, marking an increase of 13.7%. Total exports of goods during this period were pound 2,116 million, compared to pound 1,545.1 million in January-May 2024, registering an increase of 36.9%.
Provisional data for May 2025 showed total imports of goods at pound 1,001.8 million, as opposed to pound 1,060.1 million in May 2024, indicating a decrease of 5.5%. Imports from other EU Member States were pound 596.3 million and from third countries pound 405.5 million, compared to pound 629.4 million and pound 430.7 million respectively in May 2024. Notably, imports in May 2025 included the transfer of economic ownership of vessels valued at pound 4.6 million, compared to pound 88.1 million in May 2024.
Total exports of goods in May 2025 stood at pound 319.7 million, down from pound 343.6 million in May 2024, reflecting a decrease of 7%. Exports to other EU Member States were pound 109.2 million, and to third countries pound 210.5 million, compared to pound 94 million and pound 249.6 million respectively in May 2024. Exports in May 2025 included the transfer of economic ownership of vessels valued at pound 6.8 million, compared to pound 68.6 million in May 2024.
Final data for April 2025 revealed total imports of goods amounted to pound 1,161.7 million, compared to pound 1,106.8 million in April 2024, showing an increase of 5%. Exports of domestically produced products, including stores and provisions for ships and aircraft, were pound 277 million in April 2025, up from pound 221.3 million in April 2024, marking an increase of 25.2%.
Domestic exports of industrial products, excluding stores and provisions for ships and aircraft, were pound 262.5 million in April 2025, compared to pound 205.6 million in April 2024. Domestic exports of agricultural products, excluding stores and provisions for ships and aircraft, were pound 13.4 million in April 2025, compared to pound 14.5 million in April 2024. Exports of foreign products, including stores and provisions for ships and aircraft, were pound 113.7 million in April 2025, compared to pound 131.1 million in April 2024, registering a decrease of 13.3%.