Cyprus recorded a trade deficit of €1.24 billion during the first two months of 2025, marking an increase of €102.7 million compared to the same period in 2024, according to the state statistical service.
It should be noted that this widening of the trade gap occurred despite a significant rise in exports.
Specifically, the trade deficit for the period January to February 2025 reached €1.24 billion, compared to €1.14 billion in the corresponding period of 2024.
Total imports of goods during the same two-month period rose to €2.16 billion, up from €1.73 billion in January–February 2024, representing a 24.80 per cent increase.
At the same time, total exports of goods also saw a substantial boost, reaching €913.30 million in January–February 2025, compared to €586.00 million in the same period of 2024—an increase of 55.90 per cent.
In February 2025 alone, total imports amounted to €1.03 billion, an 18.90 per cent increase compared to €863.70 million in February 2024.
Imports from other European Union Member States totalled €560.80 million, while those from third countries amounted to €466.40 million, compared to €566.60 million and €297.10 million respectively in February 2024.
Included in the February 2025 import figures was the transfer of economic ownership of ships, valued at €2.70 million, slightly higher than the €2.50 million recorded in February 2024.
Total exports of goods in February 2025 surged to €476.40 million, compared to €274.10 million in February 2024—an impressive increase of 73.80 per cent.
Exports to other EU Member States were €117.40 million, while exports to third countries reached €359.00 million.
In February 2024, these figures stood at €117.20 million and €156.90 million respectively.
The February 2025 export data also includes the transfer of economic ownership of ships, which amounted to €78.20 million, up from €51.40 million in February 2024.
