Cyprus trade deficit widens in first half of 2026

Cyprus recorded a significant widening of its trade deficit during the first six months of 2026, according to data released by the Statistical Service on Monday. Total imports rose by 8.8 percent to €7.3 billion, while exports experienced a decline of 1.2 percent, settling at €2.62 billion. As a result, the trade deficit reached approximately €4.68 billion, representing a 15.4 percent increase compared to the €4.06 billion recorded during the same period in 2025.

The imbalance was particularly pronounced in June 2026, when imports surged by 11.9 percent to €1.29 billion, driven in part by the transfer of economic ownership of ships valued at €117.8 million. Conversely, exports dropped by 9.9 percent to €463 million for the month. While agricultural exports, such as halloumi, continue to provide an important economic contribution, the broader national trade balance remains under pressure from rising import volumes from both EU member states and third countries.