Cyprus’ trade deficit widened in the first ten months of 2025, increasing by €1.04 billion compared with the same period last year, driven primarily by a double-digit rise in imports, according to preliminary data released by CySTAT.
The deficit reached €6.65 billion between January and October 2025, up from €5.61 billion in the corresponding period of 2024. The deterioration reflects a 12.3% jump in total imports, which climbed to €11.27 billion from €10.03 billion a year earlier—an increase of €1.23 billion.
Exports also rose, but at a considerably slower pace. Total goods exports for the ten-month period were €4.62 billion, an annual increase of 4.3% from €4.43 billion in 2024.
Imports and exports decline in October
For October alone, preliminary figures show a contraction in both imports and exports.
Imports fell 8.9% year-on-year to €1.15 billion, compared with €1.27 billion in October 2024. Imports from EU member states stood at €654.8 million, compared with €653.2 million a year earlier, while imports from non-EU countries dropped to €498.5 million from €613.3 million.
The October import bill included €106.5 million in ship transfers, up from €82.5 million in October 2024, a recurring factor that often influences monthly trade flows due to Cyprus’ large shipping sector.
Exports in October dropped 13% year-on-year to €388.9 million, from €446.8 million in the same month of 2024. Exports to EU member states rose to €108.6 million from €95.2 million, but shipments to non-EU markets fell significantly to €280.3 million from €351.6 million. Ship transfers amounted to €46.1 million, compared with €52.9 million a year earlier.
Final data for September paint a stronger picture, with both imports and exports recording sizable increases.
Imports surged 22.8% to €1.21 billion, compared with €986.3 million in September 2024. Domestically produced exports—including supplies to ships and aircraft—jumped 44.8% to €300.2 million, from €207.3 million a year earlier.
Industrial exports excluding ship and aircraft stores rose to €291.9 million from €199.3 million, while agricultural exports edged up to €7.1 million from €6.8 million.
Exports of foreign goods, including ship and aircraft supplies, reached €197.6 million, up 34.6% year-on-year.
Key export categories
For the period January–September 2025, the leading categories of domestically produced exports (excluding ship and aircraft supplies) were mineral fuels and oils with €1.86 billion, halloumi cheese €288.3 million and pharmaceutical products €259.5 million.
(Source: CNA)
