Trade deficit showed a decrease by €769 million in the first 11 months of 2024 compared to the corresponding period of 2023, which is due to the large decrease in imports by approximately €1.32 billion and despite the significant decrease in exports by €556 million.

According to provisional data by the Cyprus Statistical Service, total imports of goods in January–November 2024 amounted to €10,900.7 mn as compared to €12,225.6 mn in January–November 2023, recording a decrease of 10.8%.

Total exports of goods in January-November 2024 were €3,761.1 mn compared to €4,317.0 mn in January-November 2023, registering a drop of 12.9%. The trade deficit was €7,139.6 mn in January–November 2024 compared to €7,908.7 mn in the corresponding period of 2023.

Regarding November 2024, total imports of goods were €1,128.7 mn as compared to €1,098.6 mn in November 2023, recording an increase of 2.7%.

Imports from other EU Member States were €620.2 mn and from third countries €508.5 mn, compared to €638.1 mn and €460.5 mn respectively in November 2023. Imports in November 2024 include the transfer of economic ownership of vessels, with total value of €138.8 mn as compared to €124.2 mn in November 2023.

Total exports of goods in November 2024 were €376.5 mn as compared to €745.8 mn in November 2023, recording a decrease of 49.5%.

Exports to other EU Member States were €77.7 mn and to third countries €298.8 mn, compared to €84.7 mn and €661.1 mn respectively in November 2023. Exports in November 2024 include the transfer of economic ownership of vessels, with total value of €54.2 mn as compared to €417.3 mn in November 2023.

Regarding the final data for October 2024, total imports of goods amounted to €1,223.8 mn in October 2024 as compared to €1,057.0 mn in October 2023, recording an increase of 15.8%.

Exports of domestically produced products, including stores and provisions, in October 2024 were €295.7 mn as compared to €165.7 mn in October 2023, recording an increase of 78.5%. 

Domestic exports of industrial products in October 2024 were €288.5 mn compared to €160.0 mn in October 2023, whilst domestic exports of agricultural products in October 2024 were €5.9 mn compared to €4.2 mn in October 2023.

Exports of foreign products, including stores and provisions, in October 2024 were €147.3 mn as compared to €116.1 mn in October 2023, recording an increase of 26.9%.

CNA/AAR/EPH/2025

ENDS, CYPRUS NEWS AGENCY