Cyprus Balance of Trade


Cyprus recorded a trade deficit of 317903 EUR Thousand in January of 2017. Balance of Trade in Cyprus averaged -190754.25 EUR Thousand from 1975 until 2017, reaching an all time high of 1931 EUR Thousand in May of 1976 and a record low of -887970 EUR Thousand in May of 2016.


Cyprus Balance of Trade

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Trade is an integral part of the recent economic success of Cyprus, as the island nation falls short of being self-sufficient for food and fuel. As such, Cyprus is a net importer of fuels, raw materials, heavy machinery and transportation equipment. Cyprus mostly exports citrus fruits, cement, potatoes, clothing and pharmaceuticals. Cyprus’ largest, and most important, trading partner is the European Union, which accounts for 50% of all Cypriot trade flows, followed by the Middle East, destination for 20% of exports from Cyprus. In the European Union, the UK and Greece account for the largest share of trade due to historical connections. Recent discoveries of offshore gas will likely diminish Cyprus’ need for importing energy and lead to a shift in the composition of its exports. This page provides – Cyprus Balance of Trade – actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus Balance of Trade – actual data, historical chart and calendar of releases – was last updated on March of 2017.