Cyprus recorded a trade deficit of 441509 EUR Thousand in May of 2019. Balance of Trade in Cyprus averaged -203000.69 EUR Thousand from 1975 until 2019, reaching an all time high of 152950 EUR Thousand in March of 2018 and a record low of -925948 EUR Thousand in May of 2016.

Balance of Trade in Cyprus is expected to be -408000.00 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 -51000.00 in 12 months time. In the long-term, the Cyprus Balance of Trade is projected to trend around -525000.00 EUR Thousand in 2020, according to our econometric models.

Cyprus Balance of Trade
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-04-09 09:30 AM Balance of Trade €-379.4M €-277.6M € -400M
2019-05-10 09:30 AM Balance of Trade €-374.2M €-380.4M €-220M
2019-06-10 09:30 AM Balance of Trade €-394.4M €-386.1M €-710M
2019-07-10 09:30 AM Balance of Trade €-441.5M €-404.9M €-410M
2019-08-09 09:00 AM Balance of Trade €-441.5M €-49M
2019-09-09 09:00 AM Balance of Trade €-470M
2019-10-10 09:05 AM Balance of Trade €-380M

Cyprus Trade Last Previous Highest Lowest Unit
Balance of Trade -441509.00 -404864.00 152950.00 -925948.00 EUR Thousand [+]
Current Account -591.30 -1229.80 395.30 -1541.40 EUR Million [+]
Current Account to GDP -7.00 -8.40 3.10 -15.50 percent [+]
Imports 695850.00 645909.00 1082134.00 13481.00 EUR Thousand [+]
Exports 254341.00 241045.00 882891.00 5946.00 EUR Thousand [+]
Capital Flows -96.50 -713.00 1701.50 -1716.40 EUR Million [+]
Remittances 17.30 20.40 34.00 1.00 EUR Million [+]
Tourism Revenues 186600.00 96600.00 428200.00 28300.00 EUR Thousand [+]
Tourist Arrivals 434578.00 329308.00 539626.00 16748.00 [+]
Gold Reserves 13.90 13.90 14.48 13.87 Tonnes [+]
Terrorism Index 1.21 1.89 3.19 0.05 [+]
External Debt 101906.10 102533.24 161624.10 90778.90 EUR Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category

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. This page provides - Cyprus Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus Balance of Trade - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-441509.00 -404864.00 152950.00 -925948.00 1975 - 2019 EUR Thousand Monthly

Country Last Previous
Argentina 1373.00 May/19
Australia 5745.00 May/19
Brazil 5020.00 Jun/19
Canada 762.30 May/19
China 509.76 Jun/19
Euro Area 23000.00 May/19
France -3278.00 May/19
Germany 20600.00 May/19
India -15280.00 Jun/19
Indonesia 196.00 Jun/19
Italy 5347.00 May/19
Japan -967.11 May/19
Mexico 1030.71 May/19
Netherlands 5579.00 May/19
Russia 11823.00 May/19
Saudi Arabia 131636.00 Mar/19
Singapore 3962.64 May/19
South Africa 1737.21 May/19
South Korea 4168.00 Jun/19
Spain -1605300.00 Apr/19
Switzerland 1654.00 May/19
Turkey -1837.83 May/19
United Kingdom -2324.00 May/19
United States -55520.00 May/19