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Trade deficit up by 34.5% in 2022

12:32 - 24 March 2023

Economy

Cyprus’ trade deficit increased by almost €2b (or 34.5%) in 2022 compared with the year before, going from €5,278.3 million in 2021 to €7,101m last year.

According to the Statistical Service, total imports of goods in January-December 2022 amounted to €11,290m compared with €8,651.7m the previous year (up 30.5%). Total exports of goods in the same period were €4,189m compared to €3,373.4m, registering an increase of 24.2%.

The European Union was the main source of supply of goods to Cyprus with a share of €6,866.4m of total imports, while imports from all other European countries totaled €1,013.6m in January-December 2022. Imports from the rest of the world amounted to €3,410m.

Exports to the European Union accounted for €1,089.6m, while exports to all other European countries for €383.9m in January-December 2022. Exports to the rest of the world amounted to €2,715.5m.

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