Cyprus’ trade deficit widened to €4.57 billion in January-July 2025, up from €4.39 billion in the same period from 2024, according to a report released on Tuesday by the Cyprus Statistical Service (Cystat).

Total imports of goods for the first seven months of 2025 reached €7.76 bn, compared to €6.71 bn in January-July 2024, recording an increase of 15.6 per cent.

Total exports of goods in the same period rose to €3.19 bn, up from €2.32 bn in January-July 2024, registering an increase of 37.4 per cent.

In July 2025, total imports of goods reached €1.26 bn, up from €1.07 bn in July 2024, an increase of 18.5 per cent.

According to the report, imports from other EU member states stood at €709.3 million, compared to €645.5 million in July 2024.

At the same time, imports from third countries amounted to €554.4m, up from €421.0m in July 2024.

Imports in July 2025 include the transfer of economic ownership of vessels, with a total value of €8.7m, compared to €12.6m in July 2024.

Total exports of goods in July 2025 were €564.3m, compared to €326.8m in July 2024, recording a sharp increase of 72.7 per cent.

The statistical reported that exports to other EU member states reached €170.7m in July 2025, up from €102.0m in July 2024.

Exports to third countries, meanwhile, stood at €393.6m, compared to €224.8m in July 2024.

Exports in July 2025 include the transfer of economic ownership of vessels, with a total value of €89.9m, compared to €20.4m in July 2024.

In June 2025, total imports of goods amounted to €1.12 bn, compared to €920.3m in June 2024, marking an increase of 22.0 per cent.

What is more, exports of domestically produced products, including stores and provisions for ships and aircraft, were €347.0m in June 2025, up from €190.1m in June 2024, recording an increase of 82.5 per cent.

Domestic exports of industrial products, excluding stores and provisions for ships and aircraft, reached €336.2m in June 2025, compared to €178.2m in June 2024.

Domestic exports of agricultural products, excluding stores and provisions for ships and aircraft, were €9.7m in June 2025, down from €10.7m in June 2024.

Exports of foreign products, including stores and provisions for ships and aircraft, decreased to €164.5m in June 2025, compared to €262.4m in June 2024, a drop of 37.3 per cent.

Cystat defines domestically produced goods as those wholly obtained in Cyprus or produced elsewhere but whose last substantial processing, or processing that led to a new product or an important stage of manufacture, took place in Cyprus.

Goods that were originally imported and have only undergone minor operations that leave them essentially unchanged are not considered domestic.

Foreign goods are those not produced in Cyprus, including compensating goods obtained under outward processing procedures when such processing confers foreign origin.