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Cyprus trade in 2024

In 2024, Cyprus exported $5.5 billion and imported $14.2 billion, a trade deficit of $8.7 billion. It was the world's 123rd-largest exporter, with 0.02% of world exports. Its top export was refined petroleum (24.2% of the total) and its main trading partner was Greece (19.1% of its trade).

Summary

Exports
$5.5billion
Imports
$14.2billion
Trade balance
-$8.7billion
Routes to the main partners. Width: trade value; color: estimated transport mode.SeaAirLand
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Products

What it exports

Refined petroleum (24.2%) and cargo and cruise ships (10.7%) together make up 34.9% of its exports.

  1. Refined petroleum$1.3 billion · 24.2%
    Main partner: Libya
  2. Cargo and cruise ships$584 million · 10.7%
    Main partner: Marshall Islands
  3. Medicines in measured doses or retail packs$529 million · 9.7%
    Main partner: Greece
  4. Cheese$424 million · 7.8%
    Main partner: United Kingdom
  5. Yachts and pleasure boats$266 million · 4.9%
    Main partner: United Kingdom
  6. Fragrance mixtures$130 million · 2.4%
    Main partner: Libya
  7. Cameras and broadcast equipment$90 million · 1.7%
    Main partner: Greece
  8. Airplanes and helicopters$87 million · 1.6%
    Main partner: Israel
  9. Fruit and vegetable juices$73 million · 1.3%
    Main partner: Turkey
  10. Resistors$55 million · 1%
    Main partner: United States

What it imports

Refined petroleum (11.8%) and cargo and cruise ships (6.7%) together make up 18.4% of its imports.

  1. Refined petroleum$1.7 billion · 11.8%
    Main partner: Greece
  2. Cargo and cruise ships$946 million · 6.7%
    Main partner: China
  3. Cars$807 million · 5.7%
    Main partner: Japan
  4. Medicines in measured doses or retail packs$495 million · 3.5%
    Main partner: Greece
  5. Coal tar oils$439 million · 3.1%
    Main partner: Spain
  6. Steel bars$263 million · 1.9%
    Main partner: Turkey
  7. Cameras and broadcast equipment$225 million · 1.6%
    Main partner: Greece
  8. Airplanes and helicopters$219 million · 1.6%
    Main partner: United States
  9. Yachts and pleasure boats$196 million · 1.4%
    Main partner: Italy
  10. Dredgers and floating cranes$151 million · 1.1%
    Main partner: China
By Harmonized System chapter (96)
ChapterExportsImports
27 · Oil, gas and coal$1.4 billion$2.2 billion
89 · Ships and boats$952 million$1.3 billion
30 · Pharmaceuticals$556 million$587 million
04 · Dairy, eggs and honey$439 million$162 million
85 · Electrical and electronic equipment$316 million$856 million
33 · Perfumes and cosmetics$170 million$247 million
84 · Mechanical machinery$167 million$876 million
88 · Aircraft and spacecraft$90 million$229 million
20 · Preserved fruit and vegetables$80 million$136 million
22 · Beverages and spirits$78 million$305 million
25 · Salt, stone and cement$77 million$54 million
90 · Precision and medical instruments$67 million$270 million
39 · Plastics$65 million$384 million
03 · Fish and seafood$64 million$105 million
23 · Animal feed and food waste$63 million$220 million
07 · Vegetables$60 million$69 million
21 · Food preparations$52 million$195 million
24 · Tobacco$50 million$188 million
72 · Iron and steel$44 million$371 million
87 · Vehicles$43 million$1.1 billion
71 · Gems and precious metals$40 million$78 million
02 · Meat and offal$33 million$174 million
74 · Copper$33 million$42 million
08 · Fruit and nuts$32 million$112 million
76 · Aluminum$31 million$131 million
15 · Fats and oils$28 million$80 million
29 · Organic chemicals$28 million$198 million
94 · Furniture and lighting$26 million$251 million
73 · Iron and steel products$25 million$220 million
09 · Coffee, tea and spices$23 million$58 million
26 · Ores and slag$22 million$35 million
93 · Weapons and ammunition$21 million$15 million
91 · Watches and clocks$20 million$58 million
47 · Wood pulp$16 million$4 million
64 · Footwear$15 million$136 million
61 · Knitted clothing$14 million$192 million
62 · Woven clothing$14 million$238 million
32 · Dyes, paints and tanning agents$13 million$90 million
48 · Paper and paperboard$12 million$187 million
34 · Soap and cleaning products$12 million$85 million
10 · Cereals$11 million$143 million
38 · Miscellaneous chemicals$11 million$129 million
19 · Baked goods and cereal products$11 million$203 million
28 · Inorganic chemicals$10 million$35 million
63 · Home textiles and used clothing$8 million$46 million
43 · Fur and fur goods$8 million$751 thousand
05 · Other animal products$7 million$5 million
82 · Tools and cutlery$6 million$38 million
96 · Other manufactured goods$6 million$28 million
12 · Oilseeds and grains$6 million$37 million
95 · Toys and sports gear$6 million$87 million
13 · Gums and plant extracts$5 million$3 million
44 · Wood$5 million$143 million
40 · Rubber$5 million$108 million
42 · Leather goods and bags$5 million$66 million
01 · Live animals$5 million$7 million
83 · Miscellaneous metal goods$4 million$44 million
17 · Sugar and sweets$4 million$41 million
11 · Milling products and malt$4 million$34 million
31 · Fertilizers$4 million$82 million
41 · Hides and leather$3 million$248 thousand
97 · Art and antiques$3 million$25 million
16 · Prepared meat and fish$2 million$96 million
35 · Glues, starches and enzymes$2 million$14 million
68 · Stone, plaster and cement articles$2 million$84 million
86 · Railway equipment$2 million$9 million
67 · Feathers and artificial flowers$2 million$4 million
36 · Explosives and matches$2 million$8 million
78 · Lead$2 million$2 million
18 · Cocoa and chocolate$2 million$55 million
70 · Glass$1 million$62 million
69 · Ceramics$1 million$116 million
49 · Books and printed matter$1 million$39 million
06 · Live plants and flowers$761 thousand$23 million
65 · Hats$696 thousand$6 million
54 · Synthetic filaments$356 thousand$9 million
56 · Felt, nonwovens and rope$282 thousand$11 million
79 · Zinc$219 thousand$1 million
37 · Photographic goods$217 thousand$7 million
57 · Carpets and rugs$208 thousand$13 million
55 · Synthetic staple fibers$194 thousand$7 million
50 · Silk$176 thousand$124 thousand
52 · Cotton$170 thousand$4 million
14 · Other plant products$162 thousand$268 thousand
51 · Wool$159 thousand$785 thousand
58 · Special fabrics and lace$154 thousand$2 million
92 · Musical instruments$135 thousand$6 million
59 · Coated and technical textiles$100 thousand$6 million
81 · Other base metals$91 thousand$748 thousand
60 · Knitted fabric$85 thousand$4 million
46 · Wicker and basketware$84 thousand$2 million
53 · Other plant fibers$15 thousand$861 thousand
66 · Umbrellas and canes$9 thousand$2 million
75 · Nickel$2 thousand$453 thousand
45 · Cork$683$819 thousand
80 · Tin$6$60 thousand

Trading partners

Its main destination is Libya (15.6% of exports) and its main source is Greece (22.1% of imports).

Who it sells to

PartnerValue (USD millions)ShareMode
Libya85115.6%Sea
Greece61211.2%Sea
Israel4087.5%Sea
Lebanon3877.1%Sea
United Kingdom3436.3%Sea
Germany1492.7%Sea
Egypt1372.5%Sea
Italy1302.4%Sea
Seychelles1272.3%Air
Netherlands1252.3%Sea

Who it buys from

PartnerValue (USD billions)ShareMode
Greece3.122.1%Sea
China1.28.5%Sea
Turkey1.17.5%Sea
Italy17.3%Sea
Germany0.795.6%Sea
Spain0.715%Sea
Israel0.614.3%Sea
Netherlands0.594.2%Sea
United Kingdom0.412.9%Sea
Japan0.312.2%Sea

Overview 1995–2024

In 2024, Cyprus accounted for 0.02% of world exports, compared with 0.03% in 1995.

Exports and imports

Exports grew 3.5-fold since 1995

USD billions (current). Bars: trade balance (green surplus, red deficit).

  • Exports 5.5
  • Imports 14.2
  • Balance -8.7

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$1.6 billion$4.7 billion-$3.1 billion
1996$1.9 billion$4.9 billion-$2.9 billion
1997$1.5 billion$4.8 billion-$3.3 billion
1998$1.5 billion$5.9 billion-$4.4 billion
1999$1.4 billion$4.9 billion-$3.5 billion
2000$1.3 billion$6.2 billion-$4.8 billion
2001$1.4 billion$6.1 billion-$4.7 billion
2002$1.3 billion$6.2 billion-$4.9 billion
2003$1.5 billion$7.7 billion-$6.2 billion
2004$2 billion$9.3 billion-$7.3 billion
2005$2.4 billion$12 billion-$9.6 billion
2006$4.6 billion$12.3 billion-$7.8 billion
2007$4 billion$14.9 billion-$10.9 billion
2008$4 billion$17.8 billion-$13.9 billion
2009$2.9 billion$12.9 billion-$10 billion
2010$3.8 billion$13 billion-$9.1 billion
2011$5.4 billion$14.2 billion-$8.7 billion
2012$6 billion$11.8 billion-$5.8 billion
2013$5.9 billion$10.8 billion-$5 billion
2014$5.5 billion$11.3 billion-$5.8 billion
2015$5.2 billion$8.8 billion-$3.6 billion
2016$4.3 billion$9.2 billion-$4.9 billion
2017$4.6 billion$11.3 billion-$6.7 billion
2018$5.9 billion$13.1 billion-$7.3 billion
2019$4.7 billion$11.2 billion-$6.6 billion
2020$4.4 billion$10.3 billion-$6 billion
2021$5 billion$11.7 billion-$6.7 billion
2022$5.3 billion$13.8 billion-$8.5 billion
2023$5.8 billion$15.5 billion-$9.7 billion
2024$5.5 billion$14.2 billion-$8.7 billion

World rank

Cyprus fell from 97th to 123rd among the world's exporters

Rank among 222 countries by export value (1st at the top).

  • 97th in 1995
  • 123rd in 2024

Source: CEPII BACI

Show the numbers
YearRank
199597th
199696th
1997109th
1998107th
1999108th
2000117th
2001117th
2002120th
2003120th
2004122nd
2005120th
2006101st
2007114th
2008116th
2009117th
2010115th
2011116th
2012110th
2013115th
2014117th
2015113th
2016118th
2017121st
2018115th
2019124th
2020123rd
2021125th
2022126th
2023126th
2024123rd

What it sells

Oil, gas and coal became its top export group: from 2% to 26%

% of exports by Harmonized System chapter.

  • Other 25%
  • Aircraft and spacecraft 2%
  • Mechanical machinery 3%
  • Perfumes and cosmetics 3%
  • Electrical and electronic equipment 6%
  • Dairy, eggs and honey 8%
  • Pharmaceuticals 10%
  • Ships and boats 17%
  • Oil, gas and coal 26%

Source: CEPII BACI

Show the numbers
Chapter19952024
Oil, gas and coal2.3%25.8%
Ships and boats8.6%17.4%
Pharmaceuticals2.8%10.2%
Dairy, eggs and honey0.8%8%
Electrical and electronic equipment6.3%5.8%
Perfumes and cosmetics0.58%3.1%
Mechanical machinery6.6%3.1%
Aircraft and spacecraft0.23%1.7%
Other72%25%

Who it trades with

Greece went from 6% to 19% of Cyprus' trade

% of total trade (exports + imports) with each partner.

  • Greece 19%
  • China 6%
  • Turkey 6%
  • Italy 6%
  • Israel 5%

Source: CEPII BACI

Show the numbers
Partner19952024
Greece6.3%19.1%
China1.3%6.3%
Turkey3.4%6%
Italy6.6%5.9%
Israel1.7%5.2%

Production hubs

Largest industrial emission sources (Climate TRACE, 2025)

  • Vasilikos power stationPower · 2 Mt CO₂e
  • Dhekelia power stationPower · 1.1 Mt CO₂e
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Largest economic production hubs (gridded GDP, 2024)

  • Nicosia$53 billion (PPP, 2021 dollars)
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Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), in current US dollars, with exports and imports reconciled between countries. The transport mode is our own estimate based on value per kilo and geography. Ranks are computed among the countries with data each year. Services are not included. Data up to 2024.

Neighboring countries

  • Cyprus UN Buffer Zone (no page)
  • Dhekelia (no page)
  • Akrotiri (no page)

Main partners

See all countries