Cyprus’ trade deficit widened by pound 821 million in the first seven months of 2026, compared with the corresponding period of 2025, mainly due to a significant increase in imports, according to preliminary data released by the Statistical Service on Wednesday.
The trade deficit rose to pound 5,620.1 million in January-July 2026, from pound 4,798.9 million in the same period last year.
Total imports of goods increased by 11.4% year-on-year to pound 8,928.7 million, from pound 8,016.2 million, while total exports rose by 2.8% to pound 3,308.6 million, from pound 3,217.3 million.
In July alone, total imports reached pound 1,609.4 million, up 22.8% from pound 1,310.9 million in July 2025. Imports from other EU Member States amounted to pound 787.8 million, while imports from third countries stood at pound 821.6 million, compared with pound 745.7 million and pound 565.2 million, respectively, in July 2025.
July imports included the transfer of economic ownership of ships worth pound 136.1 million, compared with pound 23.4 million in July 2025.
Total exports of goods in July 2026 rose by 17.6% to pound 666.8 million, from pound 567.1 million a year earlier. Exports to other EU Member States fell to pound 127.8 million from pound 173.5 million, while exports to third countries increased to pound 539.0 million from pound 393.6 million.
July exports included the transfer of economic ownership of ships worth pound 35.3 million, compared with pound 89.9 million in July 2025.
June 2026 final data
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According to final data, total imports of goods amounted to pound 1,311.8 million in June 2026, up 13.9% from pound 1,152.2 million in June 2025.
Exports of domestically produced products, including supplies to ships and aircraft, fell by 31.6% to pound 238.0 million in June 2026, from pound 347.7 million a year earlier.
Domestic exports of industrial products, excluding supplies to ships and aircraft, amounted to pound 228.1 million, compared with pound 336.9 million in June 2025, while exports of agricultural products stood at pound 8.5 million, compared with pound 9.7 million.
Exports of foreign products, including supplies to ships and aircraft, increased by 35.3% to pound 225.2 million in June 2026, from pound 166.4 million in June 2025.
The main categories of domestically produced exports in January-June 2026, excluding supplies to ships and aircraft, were mineral fuels and oils, valued at pound 858.7 million, halloumi cheese at pound 201.9 million and pharmaceutical products at pound 179.8 million.