Cyprus trade deficit widens to €5.62 billion in first seven months of 2026

Cyprus' trade deficit significantly increased during the first seven months of 2026, reaching €5.62 billion compared to €4.80 billion during the same period in 2025. This rise of approximately €821.2 million was driven primarily by a surge in imports, which grew by 11.4 percent to reach €8.93 billion, while exports experienced a more modest growth of 2.8 percent, totaling €3.31 billion.

Statistical data released on Wednesday by the Cyprus Statistical Service (Cystat) highlighted a particularly sharp increase in activity during July 2026. Total imports for July reached €1.61 billion, marking a 22.8 percent increase compared to July 2025, with significant contributions from both EU member states and third countries. The July figures were notably impacted by transfers of economic ownership for ships, which amounted to €136.1 million compared to €23.4 million in the same month of the previous year.

The widening trade gap reflects a sustained trend of import growth outpacing export performance. While the provisional data provides a clear picture of the fiscal imbalance for the January-July period, authorities continue to monitor these developments as part of standard economic reporting, with no immediate policy interventions announced in the current reports.