Nicosia: Trade deficit increased by £606 million in 2025 compared to 2024, reaching £8 billion, as a result of the large increase of almost £1 billion in imports, according to preliminary data released on Monday by the Statistical Service, Specifically the trade deficit was £8,001.4 million for the period January-December 2025, compared to £7,395.3 million in the corresponding period of 2024.
According to Cyprus News Agency, total imports of goods for the period January-December 2025 were £13,551.8 million, compared to £12,582.0 million for the period January-December 2024, marking an increase of 7.7%. Total exports of goods for the period January-December 2025 were £5,550.4 million, compared to £5,186.7 million for the period January-December 2024, marking an increase of 7.0%.
In December 2025, total imports of goods amounted to £1,204.4 million, compared to £1,386.1 million in December 2024, recording a decrease of 13.1%. Imports from other EU member states amounted to £789.3 million and from third countries to £415.1 million, compared to £703.4 million and £682.7 million respectively in December 2024. Imports in December 2025 include the transfer of economic ownership of vessels, with a total value of £218.3 million compared to £337.4 million in December 2024.
Furthermore, total exports of goods in December 2025 were £490.5 million, compared to £376.0 million in December 2024, marking an increase of 30.5%. Exports to other EU member states amounted to £182.7 million and to third countries to £307.8 million, compared to £97.0 million and £279.0 million respectively in December 2024. Exports in December 2025 include the transfer of economic ownership of ships, with a total value of £130.1 million compared to £51.4 million in December 2024.
Final data for November 2025 indicates that total imports of goods amounted to £1,043.9 million, compared to £1,161.4 million in November 2024, marking a decrease of 10.1%. Exports of domestically produced goods, including stores and provisions for ships and aircraft, in November 2025 were £283.9 million compared to £244.5 million in November 2024, recording an increase of 16.1%.
The value of domestic exports of industrial products, excluding ship and aircraft supplies, for November 2025 amounted to £276.6 million compared to £237.1 million in November 2024. The value of domestic exports of agricultural products, excluding ship and aircraft supplies, for November 2025 amounted to £6.2 million compared to £6.4 million in November 2024.
Additionally, the Statistical Service reports that exports of foreign products, including stores and provisions to ships and aircraft, for November 2025 were £144.9 million compared to £138.4 million in November 2024, marking an increase of 4.7%. The main categories of exports of domestically produced products during the period January-November 2025 (excluding supplies to ships and aircraft) were mineral fuels and oils with a value of £2,188.0 million, halloumi cheese with a value of £332.2 million, and pharmaceutical products with a value of £318.0 million.