FX.co ★ Cyprus Trade Deficit Widens in May

Cyprus’ trade deficit widened to EUR 788.7 million in May 2026, up from EUR 742.4 million in the same month a year earlier, according to preliminary estimates.

Imports rose by 22.3% year-on-year to EUR 1,309.1 million, largely reflecting higher purchases from both EU and non-EU countries. Imports from the EU increased by 13.4% to EUR 705 million, while those from non-EU countries surged by 34.7% to EUR 604.1 million. The figures include transfers of economic ownership of vessels valued at EUR 79.9 million, compared with EUR 40.4 million in May 2025.

Exports also recorded strong growth, jumping 58.9% to EUR 520.4 million. Shipments to the EU rose 9.3% to EUR 127.3 million, while exports to non-EU countries soared 86.2% to EUR 393.1 million. Exports included vessel transfers worth EUR 34.8 million, up from EUR 7.5 million in the corresponding month of 2025.

Over the January–May period, the trade deficit increased to EUR 3,840.1 million, compared with EUR 3,417.0 million in the same period a year earlier.