NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2021
Economic Complexity
Technology -0.89Rank 73 of 96
2022
Economic Complexity
Research 0.67Rank 33 of 140
2023
Product
Exports | Imports $5.7B | $15.3B126 of 226 |  100 of 226
2023
Per Capita Product
Exports | Imports $4.24k | $11.4k71 of 220 |  66 of 220

About

Overview In 2023 Cyprus was the number 126 economy in the world in terms of total exports and the number 100 in total imports.

Exports The top exports of Cyprus are Refined Petroleum ($1.38B), Passenger and Cargo Ships ($1.32B), Packaged Medicaments ($476M), Cheese ($422M), and Scented Mixtures ($126M), exporting mostly to Libya ($775M), Greece ($626M), Lebanon ($438M), Bermuda ($403M), and Marshall Islands ($294M).

Imports The top imports of Cyprus are Refined Petroleum ($2.33B), Passenger and Cargo Ships ($1.61B), Cars ($843M), Packaged Medicaments ($444M), and Coal Tar Oil ($433M), importing mostly from Greece ($3.03B), United Kingdom ($1.48B), Italy ($1.11B), Turkey ($972M), and Spain ($960M).

Location Cyprus borders Egypt, Greece, Israel, Lebanon, Syria, and Turkey by sea.

Latest Trends

Latest Trade

Flow
View
Y-AXIS SCALE

The following section uses the most recent trade data from partners of Cyprus.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

Subscribe today to OEC pro and access the latest data

Sign Up

Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Refined Petroleum$1.38B
Top Destination (2023)Libya$775M

In 2023, Cyprus exported a total of $5.7B, making it the number 126 exporter in the world. During the last five reported years the exports of Cyprus have changed by -$185M from $5.89B in 2018 to $5.7B in 2023.

The most recent exports are led by Refined Petroleum ($1.38B), Passenger and Cargo Ships ($1.32B), Packaged Medicaments ($476M), Cheese ($422M), and Scented Mixtures ($126M). The most common destination for the exports of Cyprus are Libya ($775M), Greece ($626M), Lebanon ($438M), Bermuda ($403M), and Marshall Islands ($294M).

Explore Visualizations

Exports (2023)
[Click to Select a Product]

Destinations (2023)
[Click to Select a Country]

Market Growth

Flow
View
Growth
Fastest Growing Export Markets (2022 - 2023)
Libya$642M (+ 483%)
Bermuda$403M (+ 2.29M%)
Marshall Islands$120M (+ 69.6%)
Fastest Growing Import Markets (2022 - 2023)
United Kingdom$1.11B (+ 298%)
Spain$543M (+ 130%)
Greece$284M (+ 10.4%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

Type
Flow
Depth
View
Sort By

Subscribe today to OEC pro and access the latest data

Sign Up

Service Trade

Service Trade

Cyprus Exports Services (2020)$11.1B
Cyprus Imports Services (2020)$5.52B

In 2020, Cyprus exported $11.1B worth of services. The top services exported by Cyprus in 2020 were Financial services ($5.66B), Sea transport ($3.32B), Miscellaneous business, professional, and technical services ($875M), Personal travel ($617M), and Merchanting and other trade-related services ($89.1M).

The top services imported by Cyprus in 2020 were Sea transport ($1.68B), Financial services ($1.32B), Miscellaneous business, professional, and technical services ($1.02B), Personal travel ($621M), and Telecommunications services ($215M).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Technology)-0.89Rank 73 of 96
Economic Complexity (Research)0.67Rank 33 of 140

Most Specialized Products by RCA Index

Cyprus has a high level of specialization in Passenger and Cargo Ships (83.6), Other Sea Vessels (52.3), Tug Boats (42.8), Cheese (39.3), and Gypsum (32.7). Specialization is measured using RCA, an index that takes the ratio between Cyprus observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Cyprus according to the relatedness index, were Documents of title (bonds etc) and unused stamps (0.15), Non-fillet Frozen Fish (0.15), Tropical Fruits (0.15), Gold (0.15), and Cocoa Beans (0.15). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Cyprus is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Cyprus. These are products that tend to be co-exported with the products that Cyprus exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

Filter
Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms