Halloumi among Cyprus’ top export products in 2026

Cyprus recorded a wider trade deficit in the first quarter of 2026, as imports increased while exports declined compared with the same period last year.

Specifically, the trade deficit reached €2.04 billion in January to March 2026, compared with €1.88 billion during the corresponding period of 2025.

According to the Cyprus Statistical Service (Cystat), total imports of goods during the first three months of 2026 amounted to €3.32bn, compared with €3.29bn in the same period of 2025, representing an increase of 1.0 per cent.

At the same time, total exports of goods declined by 9.8 per cent to €1.28bn, down from €1.42bn in January to March 2025.

For March 2026 alone, provisional data showed that total imports of goods increased by 11.6 per cent to €1.21bn, compared with €1.08bn in March 2025.

Imports from other EU member states amounted to €710 million, while imports from third countries totalled €500.7 million.

This compared with €647.9m from EU member states and €436.9m from third countries during March 2025.

Cystat said that imports in March 2026 included the transfer of economic ownership of vessels and aircraft valued at €20.3m, compared with €84.2m in the same month of 2025.

Meanwhile, total exports of goods in March 2026 rose by 6.7 per cent to €506.9m, compared with €475m in March 2025.

Exports to other EU member states reached €117.7m, while exports to third countries amounted to €389.2m.

The corresponding figures for March 2025 stood at €108.6m for exports to EU countries and €366.4m for exports to third countries.

Exports during March 2026 also included transfers of economic ownership of vessels valued at €41.2m, compared with €98.1m in March 2025.

Final data for February 2026 showed that total imports of goods increased by 6.1 per cent to €1.12bn, compared with €1.06bn in February 2025.

At the same time, exports of domestically produced products, including stores and provisions for ships and aircraft, dropped sharply by 52.4 per cent to €153.3m, from €322.2m a year earlier.

Domestic exports of industrial products, excluding stores and provisions for ships and aircraft, amounted to €143.2m in February 2026, compared with €311.7m in February 2025.

Domestic exports of agricultural products, excluding stores and provisions for ships and aircraft, stood at €9.3m, slightly down from €9.5m in February 2025.

In addition, exports of foreign products including stores and provisions for ships and aircraft declined by 47.6 per cent to €91.1m, compared with €174m in February 2025.

Cystat also reported that the main categories of domestically produced exports during January to February 2026, excluding stores and provisions for ships and aircraft, were mineral fuels and oils, valued at €193m.

This was followed by pharmaceutical products at €62.8m and halloumi cheese at €52.4m.