Cyprus trade deficit widens to €2.04 billion in first quarter of 2026

Nicosia, Cyprus. Cyprus recorded a wider trade deficit in the first quarter of 2026 as imports increased and exports declined compared with the same period last year. The deficit reached €2.04 billion in January to March 2026, up from €1.88 billion a year earlier.

First-quarter trade results

According to the Cyprus Statistical Service (Cystat), total imports of goods in the first three months of 2026 amounted to €3.32 billion, compared with €3.29 billion in the same period of 2025, an increase of 1.0 per cent.
Total exports of goods declined by 9.8 per cent to €1.28 billion, down from €1.42 billion in January to March 2025.

March 2026 provisional figures

For March 2026, provisional data showed total imports of goods increased by 11.6 per cent to €1.21 billion, compared with €1.08 billion in March 2025.
Imports from other EU member states amounted to €710 million, while imports from third countries totalled €500.7 million, compared with €647.9 million and €436.9 million, respectively, in March 2025.
Cystat said imports in March 2026 included the transfer of economic ownership of vessels and aircraft valued at €20.3 million, compared with €84.2 million in the same month of 2025.

March exports

Total exports of goods in March 2026 rose by 6.7 per cent to €506.9 million, compared with €475 million in March 2025.
Exports to other EU member states reached €117.7 million, while exports to third countries amounted to €389.2 million.

What do you think the decline in first-quarter exports suggests about Cyprus’ trade performance in early 2026?