Overview Of Q1 2026 Trade Figures
Cyprus recorded a trade deficit of €3.057 billion during the January-April 2026 period, compared with €2.675 billion in the corresponding period of 2025, according to data published by the Statistical Service. The increase reflects higher imports alongside lower exports during the first four months of the year.
Rising Imports Drive The Imbalance
Total imports reached €4.697 billion between January and April 2026, up 4.8% from €4.483 billion a year earlier. Imports in April alone increased by 15.1% to €1.371 billion, compared with €1.191 billion in April 2025. Goods imported from EU member states were valued at €645.3 million, while imports from third countries reached €725.4 million. April’s figures include transfers of economic ownership of ships valued at €240.4 million, compared with €100.4 million during the same month last year.
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Declining Exports Compound The Deficit
In contrast, total goods exports for the first quarter of 2026 fell to €1.6399 billion, a decrease of 9.3% from €1.8085 billion in the same period last year. April 2026 exports were reported at €363.6 million, down 7.6% from the €393.6 million recorded in April 2025. Exports to European Union countries generated €119.6 million, while those to third countries were valued at €244.0 million, compared to €109.2 million and €284.4 million, respectively, in April 2025.
Amid these figures, the transfer of economic ownership of ships as part of exports increased marginally to €33.8 million from €32.8 million in the previous year.
Final March Figures Reveal Sector Dynamics
Final data for March show imports increased by 11.6% to €1.211 billion from €1.085 billion in March 2025. Exports of domestically produced goods, including ships and aircraft, rose by 29.3% to €368.2 million from €284.8 million a year earlier. Domestic exports of industrial products, excluding ships and aircraft, increased to €352.4 million from €273.0 million. Agricultural exports rose to €14.7 million from €11.0 million.
At the same time, exports of foreign-produced goods, including supplies for ships and aircraft, declined by 27.5% to €137.8 million from €190.2 million. During the January-March period, the largest categories of domestic exports, excluding supplies for ships and aircraft, were minerals, fuels and oils valued at €424.7 million, followed by pharmaceutical products at €94.8 million.
