Imports and exports both rise in August, but trade deficit widens

The Republic of Cyprus’s imports of goods rose almost 15 per cent in August compared with the same month last year, preliminary figures from the Statistical Service show.

Total imports in August 2026 came to €1.324 billion, against €1.152 billion in August 2025, an increase of 14.9 per cent.

Imports from other EU member states totalled €569.2 million, down from €630.6 million a year earlier, while imports from non-EU countries rose to €754.9 million from €521.5 million.

The August figure includes the transfer of economic ownership of ships worth €1.1 million, compared with €55 million in August 2025.

Exports of goods rose 17.9 per cent to €643.5 million, from €545.9 million in August last year.

Exports to other EU states were worth €106.8 million, up from €76 million, while exports to non-EU countries reached €536.7 million, compared with €469.9 million.

This year’s August exports include transfers of economic ownership of ships and aircraft worth €20.8 million, against €54.3 million in August 2025.

For the first eight months of the year, imports totalled €10.257 billion, up 10.9 per cent on the €9.248 billion recorded in January to August 2025.

Exports over the same period rose 5 per cent to €3.954 billion, from €3.764 billion.

The trade deficit for January to August stood at €6.303 billion, compared with €5.484 billion a year earlier.

Famagusta Gazette