Dialogos

Trade Deficit Widens in Cyprus: €7.28 Billion in Jan-Nov 2025

Published January 9, 2026, 15:00
Trade Deficit Widens in Cyprus: €7.28 Billion in Jan-Nov 2025

Cyprus's trade deficit significantly widened in the first eleven months of 2025, reaching €7.28 billion compared to €6.38 billion in the same period of 2024. This increase is primarily attributed to a faster growth rate of imports compared to exports, despite indications of improvement in the export balance in certain months. In November 2025, total imports decreased by 10.6% to €1.0384 billion, while exports increased by 6.3% to €407.1 million. The reduction in imports was partly due to a significant decrease in the transfer of financial ownership of ships. Conversely, in October 2025, both imports and exports experienced a decline, with imports falling by 8.9% and exports by 16.4%. Exports of domestically produced industrial products decreased, while exports of agricultural products saw a slight increase. Exports of foreign products also decreased. For the period of January-November 2025, total imports amounted to €12.3097 billion, up 9.9% compared to 2024, while exports reached €5.0254 billion, an increase of 4.5%. The difference in growth rates led to a widening of the trade deficit, putting pressure on the country's external balance. The main export categories were mineral fuels, halloumi cheese, and pharmaceutical products.