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Cyprus Trade Deficit Widens To €3.1 Billion In Early 2026

by THEFUTURE.TEAM

June 11, 2026

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.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.