Trade deficit at €8.25b in 2024, up by €127.5m in January this year

The trade deficit recorded an annual decrease of €213 million in 2024, reaching €8.25 billion, compared to €8.47 billion in 2023 and €7.12 billion in 2022, while the trade deficit increased by €127.5 million, to €682.7 million, in January 2025, compared to a deficit of €555.2 million in January 2024.

In detail, according to CySTAT, exports of domestically produced goods, excluding stores and provisions, in 2024 amounted to €1.19 billion for fossil fuels and oils, €348 million for pharmaceuticals and €323.9 million for steel, for paper, glass and metal waste and scrap at €87.6 million, for fruit and vegetable juices at €48.1 million, for potatoes at €47.4 million, for telecommunication equipment at €30.9 million, for fire extinguishers and parts at €31.2 million and for other products at €264.4 million.

Specifically, according to preliminary data from CySTAT, total imports of goods in January 2025 were €1,117.8 million, compared to €867.0 million in January 2024, recording an increase of 28.9%.

Imports from other EU Member States were €561.4 million and from third countries €556.4 million, compared to €522.1 million and €344.9 million respectively in January 2024.

Imports in January 2025 include stores and provisions, totalling €70.8 million, compared to €65.6 million in January 2024.

According to CySTAT, total exports of goods in January 2025 were €435.1 million compared to €311.8 million in January 2024, an increase of 39.5%. Exports to other EU Member States were €79.4 million and to third countries €355.7 million, compared to €133.2 million and €178.6 million respectively in January 2024.

Exports in January 2025 include stores and provisions, totalling €11.3 million compared to €62.3 million in January 2024.

December 2024

Moreover, according to final data from CySTAT, total imports of goods amounted to €1,341.4 million in December 2024, compared to €954.1 million in December 2023, recording an increase of 40.6%.

Exports of domestically produced goods, including stores and provisions, were €248.0 million in December 2024, compared to €218.1 million in December 2023, recording an increase of 13.7%.

According to final data from CySTAT, the value of domestic exports of industrial products, excluding stores and provisions, was €237.4 million in December 2024, compared to €209.4 million in December 2023.

The value of domestic exports of agricultural products, excluding stores and provisions, was €9.0 million in December 2024, compared to €7.8 million in December 2023.

Exports of foreign products, including stores and provisions, were €119.9 million in December 2024, compared to €174.3 million in December 2023, recoding a decrease of 31.2%.

(Source: CNA)