Cyprus trade deficit widens to €1.34 billion in first two months of 2026

Cyprus recorded a wider trade deficit in the first two months of 2026, as a sharp drop in exports outpaced a decline in imports, according to foreign trade figures released by the statistical service (Cystat) on Thursday. 

Specifically, the statistical service said total imports of goods in February 2026 stood at €1.12 billion, compared with €1.06bn in February 2025, recording an increase of 5.6 per cent.  

Imports from other EU member states amounted to €675 million, while imports from third countries reached €440.4m, compared with €582.7m and €473.7m respectively a year earlier. 

Imports in February 2026 included the transfer of economic ownership of vessels and aircraft valued at €182.4m, up from €8.5m in February 2025. 

At the same time, total exports of goods in February 2026 fell to €244.3m, from €496.2m in February 2025, marking a decrease of 50.8 per cent.  

Exports to other EU member states stood at €93.2m, while exports to third countries reached €151.1m, compared with €126.6m and €369.6m respectively in February 2025. 

Exports in February 2026 also included the transfer of economic ownership of vessels valued at €10.5m, compared with €97m a year earlier. 

Meanwhile, for the period from January to February 2026, total imports of goods amounted to €2.11bn, down from €2.21bn in the corresponding period of 2025, reflecting a decrease of 4.5 per cent. 

Total exports of goods during the first two months of 2026 reached €766.2m, compared with €939.9m in the same period of 2025, registering a decline of 18.5 per cent. As a result, the trade deficit widened to €1.34bn in January to February 2026, from €1.27bn in the corresponding period of the previous year. 

What is more, final data for January 2026 showed total imports of goods at €992.6m, compared with €1.15bn in January 2025, representing a decrease of 13.8 per cent. 

Exports of domestically produced products, including stores and provisions for ships and aircraft, fell to €257m in January 2026 from €368.4m a year earlier, recording a decrease of 30.2 per cent. 

Domestic exports of industrial products, excluding stores and provisions for ships and aircraft, reached €244.9m, compared with €356.2m in January 2025.  

Domestic exports of agricultural products, excluding stores and provisions for ships and aircraft, stood at €10.5m, compared with €11.1m a year earlier. 

By contrast, exports of foreign products, including stores and provisions for ships and aircraft, rose to €264.9m in January 2026, from €75.3m in January 2025, marking an increase of 251.8 per cent. 

The main categories of domestically produced exports in January 2026, excluding stores and provisions for ships and aircraft, were mineral fuels and oils valued at €144.9m, followed by pharmaceutical products at €39.2m and halloumi cheese at €24.4m. 

The statistical service clarified that the category mineral fuels and oils refers to products that were initially imported, processed and then re-exported. It also noted that January 2026 data were revised, while February 2026 figures remain provisional.