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Cyprus Trade Deficit Widens Amid Sharp Export Surge

by THEFUTURE.TEAM

February 9, 2026

December Trade Performance

Cyprus closed 2025 with an expanded trade deficit. While a significant increase in exports during December bolstered the country’s market stance, a marked decline in imports overshadowed these gains. According to data released by the Cyprus Statistical Service (Cystat), total imports of goods in December 2025 fell to €1.20 billion from €1.39 billion in December 2024, representing a decrease of 13.1%. Notably, imports from other EU member states dropped to €789.30 million, and those from third countries slid to €415.10 million, from €703.40 million and €682.70 million respectively.

Significant Export Growth

Exports, however, recorded notable growth. Total export value reached €490.5 million in December 2025, up from €375.95 million in December 2024, an increase of 30.5%. Shipments to EU countries amounted to €182.7 million, while exports to third countries rose to €307.8 million from €97.0 million and €279.0 million respectively. A key factor behind the increase was the transfer of economic ownership of vessels, which climbed to €130.1 million compared with €51.4 million in the previous December.

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Year-to-Date Dynamics

Full-year data for 2025 show a mixed overall picture. Total imports for the January–December period rose to €13.55 billion from €12.58 billion in 2024, marking a 7.7% year-on-year increase. Exports reached €5.55 billion, up 7.0% from €5.19 billion the year before. As a result, the overall trade deficit widened to €8.00 billion compared with €7.40 billion in 2024.

Monthly Insights And Sectoral Highlights

Figures for November 2025 support the same trend. Total imports for the month declined to €1.04 billion from €1.16 billion a year earlier, a drop of 10.1%. In contrast, exports of domestically produced goods, including supplies for ships and aircraft, increased to €283.9 million from €244.5 million, a rise of 16.1%. Industrial product exports reached €276.6 million compared with €237.1 million, while agricultural exports edged slightly lower to €6.2 million from €6.4 million. Exports of foreign products also recorded modest gains.

Key Export Sectors

The leading domestic export categories between January and November 2025 were mineral fuels and oils at €2.19 billion, halloumi cheese at €332.2 million, and pharmaceutical products at €318.0 million. It is worth noting that the mineral fuels and oils category largely reflects goods that were imported, processed, and subsequently re-exported, which is an important factor in interpreting Cyprus’ trade structure.

Revisions And Provisional Data

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Cyprus Expects More French Visitors In 2027 As Air Capacity Expands

by THEFUTURE.TEAM

September 18, 2026

Cyprus expects more French visitors in 2027 as airlines increase capacity between the two countries, Tourism Deputy Minister Kostas Koumis said after meetings with tour operators in Paris.

France, one of Cyprus’ key tourism markets, has had a difficult 2026. French arrivals fell 46% year over year to 8,453 in August, from 15,663 a year earlier, according to the Statistical Service of Cyprus (Cystat). August arrivals were also nearly 50% below the 16,798 recorded in the same month of 2024.

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Overall, Cyprus received 2.82 million tourist arrivals between January and August, down 7% from the same period in 2025.

Air Connectivity Supports 2027 Outlook

Koumis discussed the 2027 outlook with senior executives from tour operators offering Cyprus holidays during the IFTM Top Resa travel trade fair in Paris.

Higher air capacity between France and Cyprus was a key focus of the talks. Participants also discussed the impact of geopolitical tensions in the Middle East on the French market and Cyprus’ efforts to adapt its tourism offering to French travelers.

“The French market is undoubtedly an extremely important market for our country’s tourism,” Koumis said, adding that France had regained importance only a few years ago and still had room to grow.

Improved air connectivity will be an important factor in that expansion, according to Koumis. “It is now clear that air connectivity between France and Cyprus is improving significantly, which is a basic prerequisite for the further growth of the market,” he said.

Cyprus Promotes Tourism And Regional Cooperation

Koumis attended the opening of IFTM Top Resa at the invitation of French Tourism Minister Serge Papin, who later visited the Cyprus stand. Held from Sept. 15 to 17 at Paris Porte de Versailles, the event brought together more than 32,000 tourism professionals representing 177 destinations and 1,650 brands, according to organizers.

During his visit, Koumis also met Egyptian Tourism Minister Sherif Fathy. Cyprus and Egypt reaffirmed their tourism cooperation and discussed opportunities to strengthen ties further.

French media interviews covered Cyprus’ tourism offering, infrastructure and services, along with efforts to develop specialized tourism products. Regional instability weighed on arrivals in 2026, particularly during the spring, although the decline narrowed over the summer.