Cyprus imports more products and goods from abroad than it exports. Exports of goods bearing the “Made in Cyprus” label have seen a significant decline.
According to foreign trade data, in June 2026, imports reached 1.29 billion euros, compared to 1.15 billion in the same month last year. This represents an increase of nearly 12%. (CARD) Of this amount, approximately 731 million euros relate to imports from European Union countries, while approximately 559 million euros relate to purchases from non-EU countries.
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Declining Exports
On the other hand, Cypriot exports declined. In June, they totaled 463 million euros, down from 514 million in June 2025, marking a drop of nearly 10%.
The data show that Cyprus continues to depend heavily on products it purchases from abroad, while sales of Cypriot products and goods abroad are not growing at the same rate.
“There is an issue regarding the economy’s productive base. Products that we could produce domestically, such as those in the primary sector, have not been promoted. And the same goes for technology and other professional services.” Tasos Giassemidis, Economist
For other months, such as May, the figures are more encouraging.
Fossil fuels and oils, halloumi cheese, and pharmaceutical products play a leading role in Cypriot exports.
Specifically, during the first five months of 2026, exports of fossil fuels and oils reached 744 million euros, halloumi 168 million, while pharmaceutical products exceeded 144 million euros.
The trade deficit amounted to €4,679.1 million for the January–June 2026 period, compared to €4,055.1 million the corresponding period of 2025.
See the report by Evangelos Agapios
