Cyprus (CYP) and Greece (GRC) Trade | The Observatory of Economic Complexity

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Cyprus-Greece Trade: In 2022, Cyprus exported $380M to Greece. The main products that Cyprus exported to Greece were Scrap Iron ($35.2M), Electrical Resistors ($34.9M), and Packaged Medicaments ($27.9M). Over the past 5 years the exports of Cyprus to Greece have increased at an annualized rate of 30.7%, from $99.6M in 2017 to $380M in 2022.

In 2020, Cyprus exported services to Greece worth $521M, with Travel ($216M), Transportation ($185M), and Financial services ($41.1M) being the largest in terms of value.

Greece-Cyprus Trade: In 2022, Greece exported $1.86B to Cyprus. The main products that Greece exported to Cyprus were Refined Petroleum ($707M), Packaged Medicaments ($131M), and Broadcasting Equipment ($128M). Over the past 5 years the exports of Greece to Cyprus have increased at an annualized rate of 43%, from $311M in 2017 to $1.86B in 2022.

In 2020, Greece exported services to Cyprus worth $634M, with Travel ($194M), Other business services ($127M), and Transportation ($111M) being the largest in terms of value.

Comparison In 2022, Cyprus ranked 125 in total exports ($4.91B), and does not have data regarding Economic Complexity Index. That same year, Greece ranked 50 in the Economic Complexity Index (ECI 0.33), and 57 in total exports ($55.7B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Cyprus exported $380M to Greece. The main products exported from Cyprus to Greece were Scrap Iron ($35.2M), Electrical Resistors ($34.9M), and Packaged Medicaments ($27.9M). During the last 5 years the exports of Cyprus to Greece have increased at an annualized rate of 30.7%, from $99.6M in 2017 to $380M in 2022.

In 2017, Greece exported $1.86B to Cyprus. The main products exported from Greece to Cyprus were Refined Petroleum ($707M), Packaged Medicaments ($131M), and Broadcasting Equipment ($128M). During the last 22 years the exports of Greece to Cyprus have increased at an annualized rate of 43%, from $311M in 1995 to $1.86B in 2017.

Exports from Cyprus () to Greece () (2022)

Exports from Greece () to Cyprus () (2022)

Latest Data

Trade between Cyprus () and Greece ()

Cyprus Exports

Date

Greece Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Cyprus
Top DestinationHong Kong$482M

Greece
Top DestinationItaly$5.82B

This map shows whether countries import more from Cyprus or Greece. Each country is colored based on the difference in imports they receive from Cyprus and Greece or the difference in the growth in imports.

In 2022, countries that imported more from Cyprus than Greece included Hong Kong ($482M), Seychelles ($70.8M), and Yemen ($39.3M).

In 2022, countries that imported more from Greece than Cyprus included Italy ($5.82B), Bulgaria ($3.62B), and Germany ($3.45B).

Difference in imports from Greece () and Cyprus () (2022)

Comparative Advantage Cyprus - Greece

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Cyprus and Greece by product, considering products traded by both, Cyprus and Greece.

During 2022, Cyprus had a large net trade with Greece in the exports of Machines ($115M), Chemical Products ($88.6M), and Animal Products ($49.8M).

During 2017, Greece had a large net trade with Cyprus in the exports of Mineral Products ($777M), Machines ($479M), and Chemical Products ($349M).

Potential Exports

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Bilateral Service Trade

Grc Year

Cyp Year

In 2020, Cyprus exported services to Greece worth $521M, with Travel ($216M), Transportation ($185M), and Financial services ($41.1M) being the largest in terms of value.

In 2020, Greece exported services to Cyprus worth $634M, with Travel ($194M), Other business services ($127M), and Transportation ($111M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Cyprus () to Greece () (2020)

Services Exports from Greece () to Cyprus () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Cyprus and Greece. This means that a dot/product with the flag of Cyprus indicates it has a comparative advantage over Greece. Similarly, a dot/product with the flag of Greece indicates it has a comparative advantage over Cyprus.

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Historical Data

Bilateral Trade by Products

Exports from Cyprus () to Greece () (2022)

Exports from Greece () to Cyprus () (2022)

Latest Data

Trade between Cyprus () and Greece ()

Cyprus Exports

Greece Exports

Market Competitiveness

Difference in imports from Greece () and Cyprus () (2022)

Comparative Advantage Cyprus - Greece

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Cyprus () to Greece () (2020)

Services Exports from Greece () to Cyprus () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Cyprus () and Greece () (2022)

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