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

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Greece-Cyprus Trade: In 2022, Greece exported $2.92B 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 9.43%, from $1.86B in 2017 to $2.92B 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.

Cyprus-Greece Trade: In 2022, Cyprus exported $471M 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 4.42%, from $380M in 2017 to $471M 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.

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

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Greece exported $2.92B to Cyprus. The main products exported from Greece to Cyprus were Refined Petroleum ($707M), Packaged Medicaments ($131M), and Broadcasting Equipment ($128M). During the last 5 years the exports of Greece to Cyprus have increased at an annualized rate of 9.43%, from $1.86B in 2017 to $2.92B in 2022.

In 2017, Cyprus exported $471M 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 4.42%, from $380M in 2022 to $471M in 2017.

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

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

Latest Data

Trade between Greece () and Cyprus ()

Greece Exports

Date

Cyprus Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Greece
Top DestinationItaly$5.82B

Cyprus
Top DestinationHong Kong$482M

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

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

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

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

Comparative Advantage Greece - Cyprus

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Greece had a large net trade with Cyprus in the exports of Mineral Products ($777M), Machines ($479M), and Chemical Products ($349M).

During 2017, Cyprus had a large net trade with Greece in the exports of Machines ($115M), Chemical Products ($88.6M), and Animal Products ($49.8M).

Bilateral Service Trade

Cyp Year

Grc Year

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.

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.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Greece () and Cyprus ()

Greece Exports

Cyprus Exports

Market Competitiveness

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

Comparative Advantage Greece - Cyprus

Bilateral Service Trade

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

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