Cyprus trade deficit widens in first quarter of 2026

According to provisional data from the Cyprus Statistical Service, the country's trade deficit reached €2.05 billion in the first quarter of 2026, up from €1.88 billion in the same period of 2025. Total imports for the quarter increased by 1% to €3.32 billion, while total exports fell by 9.8% to €1.28 billion. For March 2026 specifically, imports rose by 11.6% to €1.21 billion, fueled by purchases from both EU member states and third countries. Exports in March increased by 6.7% to €506.9 million compared to the previous year. Trade figures were impacted by fluctuations in the transfer of economic ownership of ships and aircraft. Imports involving such transfers totaled €20.3 million in March 2026, while export-related transfers decreased to €41.2 million compared to €98.1 million in March 2025. Data indicates that while monthly exports showed growth in March, the cumulative quarterly performance resulted in a larger overall trade gap for the island.