FX.co ★ Cyprus Posts Largest Trade Deficit in Over a Year

Cyprus’ trade deficit widened to EUR 1,007.0 million in April 2026 from EUR 797.2 million a year earlier, according to preliminary estimates. This was the largest shortfall since December 2024, driven by rising imports and declining exports.

Total imports surged 15.1% year-on-year to EUR 1,370.7 million, the highest level in over a year. The increase was fueled by a 61.2% jump in purchases from non-EU countries, while imports from the EU fell 12.9%. Included in the import figures was the transfer of economic ownership of vessels worth EUR 240.4 million, up from EUR 146.2 million in April 2025.

In contrast, total exports fell 7.6% to EUR 363.6 million, as a 14.2% decline in shipments to non-EU markets more than offset a 9.6% rise in exports to EU countries. Exports also included vessel transfers valued at EUR 33.8 million, compared with EUR 32.8 million in April 2025.

Over the first four months of 2026, the trade deficit widened to EUR 3,057.1 million, from EUR 2,674.6 million in the same period of 2025.