Cyprus (CYP) and Italy (ITA) Trade | The Observatory of Economic Complexity

About

Cyprus-Italy Trade: In 2023, Cyprus exported $153M to Italy. The main products that Cyprus exported to Italy were Refined Petroleum ($38.9M), Other Edible Preparations ($31.2M), and Rolled Tobacco ($9.71M). Over the past 5 years the exports of Cyprus to Italy have increased at an annualized rate of 4.5%, from $123M in 2018 to $153M in 2023.

In 2020, Cyprus exported services to Italy worth $131M, with Financial services ($122M), Other business services ($4.57M), and Transportation ($3.43M) being the largest in terms of value.

Italy-Cyprus Trade: In 2023, Italy exported $1.11B to Cyprus. The main products that Italy exported to Cyprus were Refined Petroleum ($150M), Raw Iron Bars ($74.5M), and Recreational Boats ($66M). Over the past 5 years the exports of Italy to Cyprus have increased at an annualized rate of 3.28%, from $941M in 2018 to $1.11B in 2023.

In 2020, Italy exported services to Cyprus worth $56M, with Communications services ($27.5M), Transportation ($12.4M), and Other business services ($6.97M) being the largest in terms of value.

Comparison In 2023, Cyprus ranked 126 in total exports ($5.7B), and does not have data regarding Economic Complexity Index. That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Cyprus exported $153M to Italy. The main products exported from Cyprus to Italy were Refined Petroleum ($38.9M), Other Edible Preparations ($31.2M), and Rolled Tobacco ($9.71M). During the last 5 years the exports of Cyprus to Italy have increased at an annualized rate of 4.5%, from $123M in 2018 to $153M in 2023.

In 2018, Italy exported $1.11B to Cyprus. The main products exported from Italy to Cyprus were Refined Petroleum ($150M), Raw Iron Bars ($74.5M), and Recreational Boats ($66M). During the last 5 years the exports of Italy to Cyprus have increased at an annualized rate of 3.28%, from $941M in 2023 to $1.11B in 2018.

Exports from Cyprus () to Italy () (2023)

Exports from Italy () to Cyprus () (2023)

Latest Data

Trade between Cyprus () and Italy ()

Cyprus Exports

Date

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Cyprus
Top DestinationLibya$775M

Italy
Top DestinationGermany$71.4B

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

In 2023, countries that imported more from Cyprus than Italy included Bermuda ($403M), Liberia ($225M), and Marshall Islands ($294M).

In 2023, countries that imported more from Italy than Cyprus included Germany ($71.4B), United States ($70.9B), and France ($61.1B).

Difference in imports from Italy () and Cyprus () (2023)

Comparative Advantage Cyprus - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Cyprus had a large net trade with Italy in the exports of Foodstuffs ($49.3M), Mineral Products ($39.4M), and Vegetable Products ($12.3M).

During 2018, Italy had a large net trade with Cyprus in the exports of Mineral Products ($170M), Metals ($135M), and Transportation ($132M).

Bilateral Service Trade

Ita Year

Cyp Year

In 2020, Cyprus exported services to Italy worth $131M, with Financial services ($122M), Other business services ($4.57M), and Transportation ($3.43M) being the largest in terms of value.

In 2020, Italy exported services to Cyprus worth $56M, with Communications services ($27.5M), Transportation ($12.4M), and Other business services ($6.97M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Italy () 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 Italy. This means that a dot/product with the flag of Cyprus indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Cyprus.

About

Historical Data

Bilateral Trade by Products

Exports from Cyprus () to Italy () (2023)

Exports from Italy () to Cyprus () (2023)

Latest Data

Trade between Cyprus () and Italy ()

Cyprus Exports

Italy Exports

Market Competitiveness

Difference in imports from Italy () and Cyprus () (2023)

Comparative Advantage Cyprus - Italy

Bilateral Service Trade

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

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

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Cyprus () and Italy () (2023)

Keep Exploring