Cyprus Trade Deficit Narrows in July

Cyprus’ trade deficit narrowed to €699.4 million in July 2025 from €739.7 million in the same month last year, as exports surged while imports rose at a softer pace. Exports jumped 72.7% year-on-year to €564.3 million, supported by shipments to the EU (€170.7 million vs €102.0 million in July 2024) and third countries (€393.6 million vs €224.8 million), including vessel transfers worth €89.9 million (vs €20.4 million). Meanwhile, total imports rose 18.5% to €1,263.7 million, driven by higher purchases from both the EU (€709.3 million vs €645.5 million) and non-EU countries (€554.4 million vs €421.0 million), including vessel transfers valued at €8.7 million (vs €12.6 million). For the January–July period, the trade deficit widened to €4,567.4 million from €4,388.1 million a year earlier, despite exports surging 37.4% to €3,193.5 million, reflecting stronger shipments and growing external demand. Imports rose 15.6% to €7,760.9 million.