Press Releases

Annual Change +14,2% in Imports and +23,3% in Exports

The Statistical Service announces the publication of the annual report “Cyprus External Trade Statistics (Volumes I-IV)” for 2021, which includes detailed data by product at eight-digit level of analysis of the Combined Nomenclature and by main partner countries.

Total imports of goods in 2021 amounted to €8.726,3 mn as compared to €7.642,1 mn in 2020, recording an increase of 14,2%. Total exports of goods in 2021 were €3.387,7 mn compared to €2.746,6 mn in 2020, registering an increase of 23,3%. The trade deficit was €5.338,6 mn in 2021 compared to €4.895,5 mn in 2020.

The European Union was the main source of supply of goods to Cyprus with a share of €5.704,9 mn of total imports, while imports from all other European countries totaled €652,5 mn in 2021. Imports from the rest of the world amounted to €2.368,9 mn.

Exports to the European Union accounted for €939,4 mn, while exports to all other European countries for €425,7 mn in 2021. Exports to the rest of the world amounted to €2.022,6 mn.

The annual report can be downloaded free of charge from the CYSTAT Portal, under the subtheme External Trade in section Publications.

Methodological information

Statistical Value

The statistical value is the value of the goods at the time and place they cross the border of Cyprus.

Domestic and Foreign Goods

Domestically produced goods are goods wholly obtained in Cyprus or goods produced in another country but their last economically substantial processing or processing that led to the manufacture of a new product or representing an important stage of manufacture, took place in Cyprus. Goods that were originally imported and have undergone repair or other minor operations which leave them essentially unchanged are not defined as domestic.

Foreign goodsare goods which were not produced in the economic territory of Cyprus and compensating goods obtained under the outward processing procedure when such processing confers foreign origin.

Partner Country

Intra-EU exports and extra-EU exports are classified by the Member State of the EU and country of final destination of the goods, respectively. The last country to which the goods are known to be specifically directed on their outward movement from the reporting country is regarded as their final destination.

For extra-EU imports, the trading partner is the country of origin. In general, goods obtained entirely from a given country originate in that country. A product in the production of which two or more countries are involved, is considered as originating in the country in which the last substantial, economically justified transformation or processing took place, resulting in the manufacture of a new product or representing an important stage of manufacture.

For intra-EU imports, the trading partner is the Member State of consignment of the goods.

The United Kingdom is considered as an extra-EU partner country for the EU. Imports from the United Kingdom are recorded by country of consignment until 31 December 2020. As of January 2021 onwards, for trade with Northern Ireland imports are recorded by country of consignment, while for trade with the United Kingdom (excluding Northern Ireland) imports are recorded by country of origin. For these reasons data on trade with the United Kingdom are not fully comparable with data on trade with other extra-EU trade partners for reference periods before and after the end of 2020.

For more information:

CYSTAT Portal, subtheme External Trade 

Publications  

Methodological Information

The Predefined Tables, available in Excel format, include data up to December 2022. Data from January 2023 onwards are available only in the CYSTAT-DB Online Database.

Contact:
Ioanna Leontiou: Tel: +357 22 605122, Email: ileontiou@cystat.mof.gov.cy

(MV/SCH)