Newsroom
New figures from the Statistical Service show the country’s trade deficit, basically the difference between what we spend on imports and what we earn from exports, hit €3.87 billion between January and June this year. That’s up from €3.65 billion in the same period of 2024.
Think of it like this: Cyprus is running a household budget where the shopping bill keeps climbing, even though the paycheck is also growing, just not fast enough to cover it all.
Imports climbing faster than exports
In June alone, Cyprus spent €1.11 billion on goods from abroad, a 21% jump compared to June last year. Most of that came from other EU countries (€588 million), and the rest from countries outside the EU (€527 million). That includes big-ticket items like ships; yes, ships count in trade stats and are worth €50.6 million.
Exports, meanwhile, also rose, up nearly 12% in June to €506.5 million, but not enough to keep pace with the import surge. Ship sales also played a role here, though at a smaller scale than last year.
Six months in, the pattern is clear
From January to June 2025, Cyprus imported goods worth €6.5 billion, up 15% from last year. Exports totaled €2.62 billion, a healthy 31% increase, but still far behind what’s coming in.
Why it matters
A growing trade deficit can signal a strong appetite for goods and investment, but it also means more money is leaving the country than coming in from trade. Over time, that can weigh on the economy, unless it’s balanced by income from services like tourism, shipping, and finance, where Cyprus traditionally does well.
For now, the takeaway is simple: Cyprus is still a big spender on the global shopping spree, and while we’re selling more, we’re buying even more than that.
