CYPRadar 🇨🇾💰 Cyprus Trade Deficit Widens in Early 2026 as Imports Outpace Exports
Cyprus recorded a widening trade deficit of €3.84 billion in the first five months of 2026, according to data from the state statistical service (Cystat). Imports surged 8.0% to €5.99 billion, while exports grew only 1.0% to €2.15 billion, increasing the gap compared to the same period in 2025.
May saw particularly strong activity with imports rising 22.3% year-on-year to €1.31 billion, including significant import transfers of vessels and aircraft. Exports also expanded substantially in May, up 58.9% to €520.4 million, fueled by increased shipments to both EU and third countries.
However, April data showed a decline in domestic product exports, negatively affecting the monthly performance. Despite the export growth in May, Cyprus' overall trade balance remains pressured by rising imports, especially from non-EU markets. Key export categories include mineral fuels, halloumi cheese, and pharmaceuticals.
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