FX.co ★ Cyprus Trade Deficit Narrows in October

Cyprus experienced a reduction in its trade deficit, which decreased to EUR 764.4 million in October 2025 compared to EUR 819.7 million in October 2024. This development was attributed to exports decreasing at a faster rate than imports, according to preliminary estimates. Specifically, exports dropped by 13% year-on-year to EUR 388.9 million, primarily affected by a significant 20.3% decline in sales to non-EU countries. However, shipments to the EU saw an increase of 14.1%. It's important to note that the total export figures include the transfer of economic ownership of vessels, which decreased to EUR 46.1 million from EUR 52.9 million in October 2024. On the import side, there was an 8.9% decline, with total imports at EUR 1,153.3 million. This was largely due to a decrease in purchases from non-EU countries by 18.7%, though imports from the EU saw a marginal rise of 0.2%. The total import figures also account for the transfer of economic ownership of vessels, which increased to EUR 106.5 million from EUR 82.5 million the previous year. Across the first ten months of 2025, Cyprus’ trade deficit expanded to EUR 6,654.7 million from EUR 5,606.7 million over the same period in 2024.