Cyprus saw its trade deficit expand by €821 million during the first seven months of 2026, driven by a sharp uptick in imports that outpaced export growth. According to preliminary data published by the Statistical Service of Cyprus, the island’s trade gap reached €5,620.1 million between January and July 2026, up from €4,798.9 million recorded over the same period in 2025.
Trade Balance Overview (January – July 2026)
| Trade Indicator | Jan–Jul 2025 | Jan–Jul 2026 | Change |
| Total Imports | €8,016.2 million | €8,928.7 million | +11.4% |
| Total Exports | €3,217.3 million | €3,308.6 million | +2.8% |
| Trade Deficit | €4,798.9 million | €5,620.1 million | +€821.0 million |
July 2026 Monthly Trade Breakdown
Imports for July alone reached €1,609.4 million (a 22.8% year-on-year increase from €1,310.9 million in July 2025), fueled in part by €136.1 million in vessel ownership transfers (up from €23.4 million in July 2025).
Total July exports also grew by 17.6% year-on-year to €666.8 million (up from €567.1 million), despite ship transfers falling to €35.3 million from €89.9 million in July 2025.
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EU Trade: Imports from EU member states rose to €787.8 million (up from €745.7 million), while exports to EU nations dropped to €127.8 million (down from €173.5 million).
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Non-EU (Third Country) Trade: Imports from third countries climbed to €821.6 million (up from €565.2 million), while exports to non-EU destinations grew to €539.0 million (up from €393.6 million).
Key Export Categories and June Final Figures
Finalized figures for June 2026 place total imports at €1,311.8 million (+13.9% YoY). Domestic exports fell 31.6% YoY to €238.0 million, whereas re-exports of foreign products surged 35.3% to €225.2 million.
During the first half of 2026 (January–June), the primary drivers of domestic exports (excluding ship and aircraft stores) were:
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Mineral Fuels & Oils: €858.7 million
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Halloumi Cheese: €201.9 million
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Pharmaceutical Products: €179.8 million
Source: Stockwatch.com.cy