Imports jump 21.1 per cent in June as exports rise 11.9 per cent

Cyprus’ trade deficit widened to €3.87 billion in the first half of 2025, compared to €3.65 billion in the same period last year, according to a report released on Monday by the state statistical service.

Total imports of goods in June 2025 reached €1.11 bn, up 21.1 per cent from €920.3m in June 2024.

Imports from other European Union member states amounted to €588.0m in June 2025, compared to €554.3m a year earlier.

Imports from third countries increased significantly to €526.7m, up from €366.0m in June 2024.

June’s imports also included the transfer of economic ownership of vessels valued at €50.6m, down from €77.8m in June 2024.

Total exports of goods in June 2025 stood at €506.5m, marking an 11.9 per cent increase compared to €452.5m in June 2024.

Exports to other EU member states rose to €141.5m from €127.8m the previous year.

Exports to third countries also grew to €365.0m from €324.7m in June 2024.

The value of exports related to the transfer of economic ownership of vessels was €63.3m in June 2025, compared to €160.6m a year earlier.

In the period from January to June 2025, total imports of goods amounted to €6.50 bn, representing a 15.0 per cent increase from €5.65 bn in the same period of 2024.

Total exports for the first half of 2025 reached €2.62 bn, up 31.4 per cent compared to €2.00 bn in January to June 2024.

The resulting trade deficit for the first six months of the year was €3.87 bn, higher than the €3.65 bn recorded in the corresponding period last year.

Looking at May 2025, total imports of goods decreased by 5.2 per cent to €1.01 bn from €1.06 bn in May 2024.

Exports of domestically produced products, which include stores and provisions for ships and aircraft, rose by 9.5 per cent to €212.3m in May 2025, compared to €193.9m a year earlier.

Domestic exports of industrial products, excluding stores and provisions for ships and aircraft, increased to €197.8m in May 2025 from €176.0m in May 2024.

However, domestic exports of agricultural products, excluding stores and provisions for ships and aircraft, fell to €13.2m from €16.5m in May 2024.

Finally, exports of foreign products, including stores and provisions for ships and aircraft, dropped by 27.2 per cent to €109.0m in May 2025 from €149.7m in May 2024.