Cyprus recorded a widening trade deficit in the first five months of 2026 as imports of goods increased faster than exports, according to final April data and provisional May figures released by the state statistical service (Cystat) on Friday.

Total imports of goods reached €5.99 billion between January and May 2026, compared with €5.55 billion during the same period in 2025, representing an increase of 8.0 per cent.

Exports of goods during the first five months of 2026 totalled €2.15bn, compared with €2.14bn in the corresponding period of 2025, marking a rise of 1.0 per cent.

As a result, Cyprus’ trade deficit expanded to €3.84bn in January-May 2026, compared with €3.42bn in the same period last year.

Cystat’s provisional data showed that imports in May 2026 reached €1.31bn, compared with €1.07bn in May 2025, recording an annual increase of 22.3 per cent.

Imports from other EU member states amounted to €705 million in May 2026, compared with €621.70 million a year earlier.

In addition, imports from third countries reached €604.10m, up from €448.40m in May 2025.

The May import figures include the transfer of economic ownership of vessels and aircraft worth €79.90m, compared with €40.40m in May 2025.

Exports also recorded strong growth in May, with total goods exports reaching €520.40m, compared with €327.60m in May 2025, an increase of 58.9 per cent.

Exports to other EU member states stood at €127.30m in May 2026, compared with €116.50m a year earlier.

Exports to third countries rose significantly to €393.10m, compared with €211.10m in May 2025.

May exports included the transfer of economic ownership of vessels valued at €34.80m, compared with €7.50m in the same month of 2025.

Cystat’s final data for April showed that total imports of goods amounted to €1.37bn, compared with €1.19bn in April 2025, representing an increase of 14.9 per cent.

Exports of domestically produced products, including stores and provisions for ships and aircraft, fell in April 2026 to €220.90m from €277.70m a year earlier, recording a decrease of 20.5 per cent.

Domestic exports of industrial products, excluding stores and provisions for ships and aircraft, declined to €205.90m in April 2026 from €263.20m in April 2025.

Exports of domestic agricultural products, excluding stores and provisions for ships and aircraft, increased slightly to €14.00m in April 2026 from €13.40m a year earlier.

Exports of foreign products, including stores and provisions for ships and aircraft, rose to €142.20m in April 2026 from €115.90m in April 2025, representing an increase of 22.7 per cent.

For the January-April 2026 period, the main categories of domestically produced exports, excluding stores and provisions for ships and aircraft, were mineral fuels and oils worth €517.40m, halloumi cheese worth €130.20m and pharmaceutical products worth €123.00m.

The figures indicate that while Cyprus experienced stronger export activity in May, particularly towards non-EU markets, the country’s overall trade balance remained under pressure due to continued growth in imports.