Politis

Trade Deficit Decreases by €231 Million in January

Published March 12, 2026, 12:18
Trade Deficit Decreases by €231 Million in January

Cyprus' trade deficit decreased by €231 million in January 2026, according to data released by the Statistical Service. Total imports of goods decreased by 13.6% to €994.1 million compared to €1.2 billion in January 2025, while exports increased by 16.6% to €517.5 million. The decrease in imports is due to a reduction in imports from EU member states and third countries. Exports increased to both EU member states and third countries. The transfer of economic ownership of ships is included in both exports and imports, which saw a significant increase in exports. The increase in exports and the decrease in imports contributed to the reduction in the trade deficit. The Statistical Service does not provide a detailed analysis of the reasons for the decrease in imports and the increase in exports.