Cyprus’ Trade Deficit Widens To €6.86 Billion Despite Faster Export Growth

by THEFUTURE.TEAM

November 10, 2026

Cyprus’ trade deficit widened to €6.86 billion in the first nine months of 2026, as rising imports continued to outpace the value of exports, according to provisional figures from Cystat.

The deficit increased 10.2% from €6.23 billion in the corresponding period of 2025. Imports rose 12.1% to €11.76 billion, while exports grew 14.8% to €4.89 billion. Although exports recorded the faster percentage increase, their lower overall value meant the stronger growth was not enough to offset the rise in imports.

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September Exports Surge As Monthly Deficit Narrows

September offered a more favorable monthly comparison. Exports jumped 89.1% year over year to €939.3 million, up from €496.6 million in September 2025. Shipments to countries outside the European Union more than doubled, reaching €723.3 million from €323.9 million. Exports to other EU member states increased to €216 million, compared with €172.7 million a year earlier.

The September export total included €157.3 million in transfers of economic ownership of vessels, up from €108 million in the same month of 2025. Such transfers can significantly affect monthly trade figures, making the headline total more volatile than underlying trade activity.

Imports also increased in September, rising 19.7% to €1.49 billion from €1.24 billion. Imports from other EU member states reached €705.2 million, compared with €638.9 million, while imports from third countries climbed to €784.4 million from €605.3 million. The total included €58.9 million in transfers of economic ownership of vessels and aircraft, against €38 million a year earlier.

Despite the increase in imports, the monthly trade deficit narrowed to €550.3 million from €747.6 million in September 2025—a reduction of approximately 26.4%.

Domestic Exports Show Broad-Based Gains In August

Cystat’s final figures for August showed imports rising 15.8% year over year to €1.33 billion, up from €1.15 billion. Exports of domestically produced goods increased more sharply, advancing 29.8% to €518.5 million from €399.4 million.

Within domestic exports, industrial goods—excluding mineral fuels and oils, as well as stores and provisions for ships and aircraft—rose to €73.6 million from €71.2 million. Agricultural exports, on the same basis, increased to €7 million from €6.4 million.

Exports of foreign products moved in the opposite direction, falling 14.5% to €125.2 million from €146.5 million.

Halloumi Leads Cyprus’ Domestic Export Categories

In the first eight months of 2026, halloumi remained Cyprus’ leading domestic export category, excluding mineral fuels and oils and stores and provisions for ships and aircraft. Its export value reached €258.3 million. Pharmaceutical products followed at €226.1 million, while waste and scrap of paper, glass and metal accounted for €71.1 million.

The figures point to continued growth in several export categories, but the wider nine-month deficit underscores the scale of the import bill. Sustained progress in exports will matter not only for individual industries, but also for narrowing the gap between goods flowing into and out of the country.

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EU Services Production Grows As Information And Communication Lead

by THEFUTURE.TEAM

November 10, 2026

Services production continued to expand across the European Union in August 2026, with information and communication recording the strongest annual growth. However, performance varied significantly between industries and member states, while Cyprus reported a mixed picture, with business services expanding and hospitality-related activities declining.

Information And Communication Leads Sector Growth

Compared with August 2025, services production increased by 5.9% in the euro area and 5.8% across the EU in information and communication. Transportation and storage also recorded growth, rising by 2.1% and 1.9%, respectively.

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Real estate activities increased by 1.6% in the euro area and 1.1% in the EU. Professional, scientific and technical activities grew by 1% in both areas, while administrative and support services advanced by 1.1% and 1.3%.

Accommodation and food services was the only major sector to record an annual decline, falling by 0.1% in both the euro area and the EU.

The monthly figures were more mixed. Information and communication remained the strongest performer, increasing by 1.2% in the euro area and 1% across the EU. Real estate activities rose by 0.4% and 0.9%, respectively, while transportation and storage edged up 0.1% in the euro area but declined by 0.2% in the EU.

Administrative and support services recorded modest gains of 0.2% in the euro area and 0.1% in the EU. Accommodation and food services fell by 0.3% and 0.4%, while professional, scientific and technical activities declined by 0.8% and 0.9%, respectively.

Slovakia And Greece Record Strongest Annual Growth

Romania recorded the largest monthly increase in services production, at 5.2%, followed by Malta at 1.8% and Portugal at 1.7%. Luxembourg experienced the steepest decline, with output falling by 5.1%, followed by Bulgaria at 2.3% and Denmark at 1.9%.

On an annual basis, Slovakia led with growth of 10%, followed by Greece at 9.3% and Malta at 7.5%. Hungary recorded the weakest performance, with services production declining by 5.6%. Denmark fell by 5.3%, while Italy recorded a smaller decrease of 0.3%.

Cyprus Sees Growth In Business Services But Weakness In Hospitality

Cyprus’ latest figures show a similar divide between expanding business services and weaker hospitality-related activities. According to the Statistical Service of Cyprus (Cystat), professional, scientific and technical activities recorded the strongest annual growth among the covered sectors in the second quarter of 2026, increasing by 3.4%.

Transportation and storage and information and communication both grew by 2.1%, while real estate activities rose by 1.6%. In contrast, accommodation and food services declined by 3.1% year on year, and administrative and support services fell by 2.2%.

First-half results were more favourable for several sectors. Between January and June, professional, scientific and technical activities grew by 3.5%, transportation and storage by 2.8%, real estate by 2.1% and information and communication by 1.3%.

Nevertheless, administrative and support services contracted by 1% over the six-month period, while accommodation and food services declined by 0.7%.

How Cyprus’ Figures Differ From Eurostat’s Data

The Eurostat and Cystat figures measure different aspects of economic activity and are not directly comparable. Eurostat’s services production index tracks changes in the volume of output, whereas Cystat’s Turnover Value Index for Services and Transport measures the value of sales at current prices.

The reporting periods also differ: Eurostat’s figures cover August, while the cited Cypriot data relate to the second quarter and first half of 2026.

Cystat transmits services production data to Eurostat but does not yet publish a separate national production index. Turnover figures therefore remain the main publicly available national indicator for the sector.

Taken together, the data point to continued growth in several of Cyprus’ business-oriented services, alongside persistent pressure on accommodation, food and administrative support activities.

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