Nicosia: The trade deficit for Cyprus during the January-March 2025 period showed an annual increase, as reported by the Statistical Service of Cyprus. The trade deficit was recorded at £1.846,4 million, compared to £1.709,7 million during the same period in 2024.
According to Cyprus News Agency, provisional data for March 2025 showed total imports of goods at £1.021,2 million, an increase from £828,1 million in March 2024, reflecting a 23,3% rise. Imports from other EU member states reached £586,0 million, and imports from third countries stood at £435,2 million, compared to the previous year’s figures of £567,0 million and £261,1 million, respectively. Notably, imports in March 2025 included the transfer of economic ownership of vessels valued at £53,7 million, a rise from £9,5 million in March 2024.
Total exports of goods in March 2025 amounted to £409,0 million, compared to £263,1 million in March 2024, marking a 55,5% increase. Exports to other EU member states were £102,8 million, while exports to third countries totaled £306,2 million, compared to £115,5 million and £147,6 million, respectively, in March 2024. The transfer of economic ownership of vessels included in March 2025 exports was valued at £35,8 million, slightly down from £36,6 million in March 2024.
For the entire January-March 2025 period, total imports of goods reached £3.190,5 million, up from £2.558,8 million in the same period in 2024, indicating a 24,7% increase. Total exports of goods for the same period were £1.344,1 million, showing a significant rise from £849,1 million in January-March 2024, a 58,3% increase.
Final data for February 2025 revealed total imports of goods at £1.035,4 million, up from £863,7 million in February 2024, an increase of 19,9%. Exports of domestically produced products, including stores and provisions for ships and aircraft, were £321,6 million in February 2025, compared to £120,5 million in February 2024, reflecting a 166,9% increase.
Domestic exports of industrial products, excluding stores and provisions for ships and aircraft, were £311,1 million in February 2025, up from £111,5 million in February 2024. Domestic exports of agricultural products, excluding stores and provisions for ships and aircraft, were £9,5 million in February 2025, compared to £7,9 million in February 2024.
Exports of foreign products, including stores and provisions for ships and aircraft, were £173,0 million in February 2025, compared to £153,6 million in February 2024, marking an increase of 12,6%, according to the Statistical Service.