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Annual Change in November, +3,0% in Imports and +9,2% in Exports

November 2023, Provisional Data

Total imports of goods in November 2023 were €1.057,6 mn as compared to €1.026,7 mn in November 2022, recording an increase of 3,0%. Imports from other European Union (EU) Member States were €603,3 mn and from third countries €454,4 mn, compared to €619,4 mn and €407,3 mn respectively in November 2022. Imports in November 2023 include the transfer of economic ownership of mobile transport equipment with total value of €119,5 mn as compared to €161,9 mn in November 2022.

Total exports of goods in November 2023 were €379,5 mn as compared to €347,5 mn in November 2022, recording an increase of 9,2%. Exports to other EU Member States were €88,1 mn and to third countries €291,5 mn, compared to €78,4 mn and €269,2 mn respectively in November 2022. Exports in November 2023 include the transfer of economic ownership of mobile transport equipment with total value of €47,2 mn as compared to €161,3 mn in November 2022.

Total imports of goods in January – November 2023 amounted to €11.896,6 mn as compared to €10.622,7 mn in January – November 2022, recording an increase of 12,0%. Total exports of goods in January – November 2023 were €3.927,1 mn, compared to €3.615,5 mn in January – November 2022, registering an increase of 8,6%. The trade deficit was €7.969,5 mn in January – November 2023, compared to €7.007,2 mn in the corresponding period of 2022.

October 2023, Final Data

Total imports of goods amounted to €1.029,0 mn in October 2023 as compared to €940,4 mn in October 2022, recording an increase of 9,4%.

Exports of domestically produced products, including stores and provisions, in October 2023 were €165,1 mn as compared to €163,6 mn in October 2022, recording an increase of 0,9%. Domestic exports of industrial products in October 2023 were €159,5 mn, compared to €157,5 mn in October 2022, whilst domestic exports of agricultural products in October 2023 were €4,1 mn, compared to €5,0 mn in October 2022.

Exports of foreign products, including stores and provisions, in October 2023 were €114,8 mn as compared to €254,4 mn in October 2022, recording a decrease of 54,9%.

More data are published in the monthly publication ‘Intra – Extra EU Trade Statistics (Summarised Data) – October 2023’ and in the online database CYSTAT-DB, under the subtheme External Trade.

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 goods are 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. 

Mobile Transport Equipment 

Mobile transport equipment refers to vessels and aircraft. 

For more information visit the CYSTAT Portal, subtheme External Trade, CYSTAT-DB (Online Database), Predefined Tables (Excel), Publications, Methodological Information, or contact Mr Sofronis Vikis at 22 602206, email: svikis@cystat.mof.gov.cy or Ms Ioanna Leontiou at 22 605122, email: ileontiou@cystat.mof.gov.cy.

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.

(GS/ΙΑ)