Canada (CAN) and Cyprus (CYP) Trade | The Observatory of Economic Complexity

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Canada (CAN) and Cyprus (CYP) Trade

2022

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Exports $11.3MRnk 147 / 215

2022

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About

Canada-Cyprus Trade: In 2022, Canada exported $11.3M to Cyprus. The main products that Canada exported to Cyprus were Dried Legumes ($1.41M), Packaged Medicaments ($1.15M), and Self-adhesive Plastics ($801k). Over the past 5 years the exports of Canada to Cyprus have decreased at an annualized rate of 0.59%, from $11.6M in 2017 to $11.3M in 2022.

In 2020, Canada exported services to Cyprus worth $76.1M, with Computer and information services ($68.6M), Communications services ($4.47M), and Financial services ($1.49M) being the largest in terms of value.

Cyprus-Canada Trade: In 2022, Cyprus exported $5.64M to Canada. The main products that Cyprus exported to Canada were Packaged Medicaments ($1.49M), Cheese ($1.43M), and Salt ($419k). Over the past 5 years the exports of Cyprus to Canada have increased at an annualized rate of 14.3%, from $2.89M in 2017 to $5.64M in 2022.

In 2020, Cyprus exported services to Canada worth $59.4M, with Transportation ($53.7M), Financial services ($4.57M), and Travel ($1.14M) being the largest in terms of value.

Comparison In 2022, Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B). That same year, Cyprus ranked 125 in total exports ($4.91B), and does not have data regarding Economic Complexity Index.

Latest Trends

August, 2024

About

Overview In August 2024, Canada exported C$453k and imported C$324k from Cyprus, resulting in a positive trade balance of C$129k. Between August 2023 and August 2024 the exports of Canada have decreased by C$-172k (-27.6%) from C$625k to C$453k, while imports decreased by C$-458k (-58.6%) from C$782k to C$324k.

Trade In August 2024, the top exports of Canada to Cyprus were Air Pumps (C$266k), Dried Legumes (C$73.9k), Other Inedible Animal Products (C$62.4k), Microphones and Headphones (C$53.7k), and Vitamins (C$36.9k). In August 2024 the top imports of Canada from Cyprus were Packaged Medicaments (C$1.23M), Cheese (C$241k), Salt (C$194k), Metal-Rolling Mills (C$122k), and Liquid Dispersing Machines (C$101k).

Origins In August 2024 the exports of Canada were mainly from Quebec (C$164k), British Columbia (C$121k), Alberta (C$120k), Ontario (C$40.6k), and New Brunswick (C$6.96k), while imports destinations were mainly Ontario (C$278k), Manitoba (C$37.9k), Quebec (C$3.81k), Alberta (C$3.63k), and British Columbia (C$279).

Growth In August 2024, the decrease in Canada's year-by-year exports to Cyprus was explained primarily by an decrease in product exports in Packaged Medicaments (C$-175k or -91.8%), Dried Legumes (C$-29.5k or -28.6%), and Commodities not elsewhere specified (C$-26.4k or -93%). In August 2024, the decrease in Canada's year-by-year imports from Cyprus was explained primarily by an decrease in product imports in Medical Instruments (C$-6.92k or -98%) and Centrifuges (C$-2.76k or -49.9%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (August 2023 - August 2024)C$-172k(-27.6%)

IMPORT GROWTH (August 2023 - August 2024)C$-458k(-58.6%)

MAIN EXPORTER (August 2024)QuebecC$164k

This section shows exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Canada over time.

To check Cyprus and Canada trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Canada exported $11.3M to Cyprus. The main products exported from Canada to Cyprus were Dried Legumes ($1.41M), Packaged Medicaments ($1.15M), and Self-adhesive Plastics ($801k). During the last 5 years the exports of Canada to Cyprus have decreased at an annualized rate of 0.59%, from $11.6M in 2017 to $11.3M in 2022.

In 2017, Cyprus exported $5.64M to Canada. The main products exported from Cyprus to Canada were Packaged Medicaments ($1.49M), Cheese ($1.43M), and Salt ($419k). During the last 5 years the exports of Cyprus to Canada have increased at an annualized rate of 14.3%, from $2.89M in 2022 to $5.64M in 2017.

Exports from Canada () to Cyprus () (2022)

Exports from Cyprus () to Canada () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Canada
Top DestinationUnited States$438B

Cyprus
Top DestinationHong Kong$482M

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

In 2022, countries that imported more from Canada than Cyprus included United States ($438B), China ($25.4B), and Japan ($14.3B).

In 2022, countries that imported more from Cyprus than Canada included Greece ($471M), Liberia ($255M), and Marshall Islands ($173M).

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

Comparative Advantage Canada - Cyprus

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Canada had a large net trade with Cyprus in the exports of Machines ($3.04M), Instruments ($1.58M), and Chemical Products ($1.54M).

During 2017, Cyprus had a large net trade with Canada in the exports of Chemical Products ($1.6M), Animal Products ($1.44M), and Machines ($972k).

Bilateral Service Trade

Cyp Year

Can Year

In 2020, Cyprus exported services to Canada worth $59.4M, with Transportation ($53.7M), Financial services ($4.57M), and Travel ($1.14M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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

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