Cyprus recorded a trade deficit of 292318 EUR Thousand in August of 2020.

Balance of Trade in Cyprus averaged -208424.65 EUR Thousand from 1975 until 2020, reaching an all time high of 158661 EUR Thousand in March of 2018 and a record low of -925948 EUR Thousand in May of 2016. This page provides - Cyprus Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Statistical Service of the Republic of Cyprus

Balance of Trade in Cyprus is expected to be -528000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Cyprus to stand at -528000.00 in 12 months time. In the long-term, the Cyprus Balance of Trade is projected to trend around -525000.00 EUR Thousand in 2021, according to our econometric models.

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Cyprus Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-292318.00 -413454.00 158661.00 -925948.00 1975 - 2020 EUR Thousand Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-07-10 09:00 AM May €-188.4M €-169.4M €-300M
2020-08-10 09:00 AM Jun €-389.5M €-188.4M € -51M
2020-09-09 09:20 AM Jul €-408.9M €-393.4M €-425M
2020-10-12 09:10 AM Aug €-292.3M €-413M €-335M
2020-11-09 10:00 AM Sep €-292.3M € -51M
2020-12-10 10:00 AM Oct


News Stream
Cyprus Trade Gap Falls in December
The trade deficit in Cyprus narrowed sharply to EUR 453.5 million in December of 2019 from a EUR 690.9 million gap a year earlier. Exports jumped 49 percent year-on-year to EUR 249.2 million, mainly boosted by sales to the EU (+76 percent). Those to countries outside the EU rose 32 percent. Imports slumped 18 percent to EUR 702.7 million, as purchases from the EU shrank 33 percent and those from countries outside the EU edged down 0.6 percent. Considering full 2019, the country trade gap increased to EUR 5106 million from EUR 4891 million in 2018.
2020-02-10
Cyprus Trade Gap Falls in November
The trade deficit in Cyprus narrowed sharply to EUR 411.6 million in November of 2019 from a EUR 764.9 million gap a year earlier. Exports jumped 13 percent year-on-year to EUR 236.6 million, mainly boosted by sales to countries outside the EU (+42 percent) while those to the EU fell 23 percent. Imports slumped 33.5 percent to EUR 648.2 million, as purchases from countries outside the EU dropped 60.5 percent while those from the EU increased 1 percent.
2020-01-09
Cyprus Trade Deficit Widens as Exports Slump
The Cyprus trade deficit rose to EUR 493.8 million in September 2019 from EUR 415.4 million in the same month of the previous year, as exports slumped 18.9 percent to EUR 218.5 million, the lowest since March. Meantime, imports rose 4 percent from a year earlier to EUR 712.3 million.
2019-11-11

Cyprus Balance of Trade
Trade is an integral part of the recent economic success of Cyprus, as the island nation falls short of being self-sufficient for food and fuel. As such, Cyprus is a net importer of fuels, raw materials, heavy machinery and transportation equipment. Cyprus mostly exports citrus fruits, cement, potatoes, clothing and pharmaceuticals. Cyprus' largest, and most important, trading partner is the European Union, which accounts for 50% of all Cypriot trade flows, followed by the Middle East, destination for 20% of exports from Cyprus. In the European Union, the UK and Greece account for the largest share of trade due to historical connections. Recent discoveries of offshore gas will likely diminish Cyprus' need for importing energy and lead to a shift in the composition of its exports.