Nicosia: The trade deficit in the first four months of 2025 reached £2,613.7 million, marking an increase of £149.5 million compared to the same period in 2024. This rise occurred despite a notable increase in exports, as highlighted by provisional data from the Statistical Service released on Tuesday.
According to Cyprus News Agency, total imports of goods during this period amounted to £4,356.9 million, compared to £3,665.6 million from January to April 2024, representing an 18.9% increase. Meanwhile, total exports of goods for January to April 2025 were £1,743.2 million, up from £1,201.4 million in the same months of 2024, showing a significant increase of 45.1%.
In April 2025 alone, total imports were recorded at £1,156 million, up from £1,106.8 million in April 2024, which indicates a 4.4% increase. Imports from EU member states amounted to £715.9 million and those from third countries were £440.1 million, compared to £661.3 million and £445.5 million, respectively, in April 2024. The imports for April 2025 also included the transfer of economic ownership of vessels and aircraft, valued at £142.6 million, compared to £151 million in April 2024.
Total exports of goods in April 2025 were £390 million, compared to £352.4 million in April 2024, registering an increase of 10.7%. Exports to EU member states were £105.7 million and to third countries £284.3 million, compared to £109.7 million and £242.7 million, respectively, in April 2024. The April 2025 exports included the transfer of economic ownership of vessels, valued at £32.8 million, compared to £38.2 million in April 2024.
CYSTAT also released the final foreign trade data for March 2025, showing total imports of goods at £1,031.1 million, compared to £828.1 million in March 2024, reflecting a 24.5% increase. Exports of domestically produced products, including stores and provisions for ships and aircraft, were £283.4 million in March 2025, up from £151.2 million in March 2024, indicating an 87.4% increase.
Domestic exports of industrial products, excluding stores and provisions for ships and aircraft, were £271.7 million in March 2025, compared to £140.1 million in March 2024. Additionally, domestic exports of agricultural products, excluding stores and provisions for ships and aircraft, were £10.8 million in March 2025, compared to £10.3 million in March 2024. Exports of foreign products, including stores and provisions for ships and aircraft, were £135.8 million in March 2025, up from £111.9 million in March 2024, marking a 21.4% increase.