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2022
Flag → Flag
Exports $1.36BRnk 58 / 221
2022
Flag → Flag
Top Product $416MRefined Petroleum
2022
Flag → Flag
Exports $90.3MRnk 16 / 194
2022
Flag → Flag
Top Product $8.03MBase Metal Watches
2022
Flag
Economic Complexity (ECI) ECI 1.29Rnk 17 / 133
2022
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GDP$2.01TCURRENT US$
Rnk 10 / 186
2012-2022
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GDP GROWTH-3.67%CURRENT US$
Rnk 169 / 186
2022
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 GDP$28.4BCURRENT US$
Rnk 105 / 186
2012-2022
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GDP GROWTH13.5%CURRENT US$
Rnk 138 / 186
2022
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GDP PC $34,158CURRENT US$
Rnk 30 / 186
2012-2022
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GDP PC GROWTH-2.55%CURRENT US$
Rnk 148 / 186
2022
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GDP PC$31,284CURRENT US$
Rnk 36 / 186
2012-2022
Flag
GDP PC GROWTH7.9%CURRENT US$
Rnk 123 / 186

About

Italy-Cyprus Trade: In 2022, Italy exported $1.36B to Cyprus. The main products that Italy exported to Cyprus were Refined Petroleum ($416M), Raw Iron Bars ($63.2M), and Recreational Boats ($58.3M). Over the past 5 years the exports of Italy to Cyprus have increased at an annualized rate of 12.8%, from $744M in 2017 to $1.36B in 2022.

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.

Cyprus-Italy Trade: In 2022, Cyprus exported $90.3M to Italy. The main products that Cyprus exported to Italy were Base Metal Watches ($8.03M), Planes, Helicopters, and/or Spacecraft ($5.8M), and Hard Liquor ($5M). Over the past 5 years the exports of Cyprus to Italy have decreased at an annualized rate of 3.72%,  from $109M in 2017 to $90.3M in 2022.

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.

Comparison In 2022,  Italy ranked 17 in the Economic Complexity Index (ECI 1.29),  and 7 in total exports ($634B). 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, Italy exported €15.9M and imported €2.25M from Cyprus, resulting in a positive trade balance of €13.7M. Between August 2023 and August 2024 the exports of Italy have increased by €10.8M (210%) from €5.13M to €15.9M, while imports decreased by €-27.7M (-92.5%) from €29.9M to €2.25M.

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)€10.8M(210%)
IMPORT GROWTH (August 2023 - August 2024)€-27.7M(-92.5%)

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

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

For full datasets download visit Bulk Download page.

Explore Cyprus and Italy Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Italy exported $1.36B to Cyprus. The main products exported from Italy to Cyprus were Refined Petroleum ($416M), Raw Iron Bars ($63.2M), and Recreational Boats ($58.3M). During the last 5 years the exports of Italy to Cyprus have increased at an annualized rate of 12.8%, from $744M in 2017 to $1.36B in 2022.

In 2017, Cyprus exported $90.3M to Italy. The main products exported from Cyprus to Italy were Base Metal Watches ($8.03M), Planes, Helicopters, and/or Spacecraft ($5.8M), and Hard Liquor ($5M). During the last 5 years the exports of Cyprus to Italy have decreased at an annualized rate of 3.72%, from $109M in 2022 to $90.3M in 2017.

Exports from Italy (Flag) to Cyprus (Flag) (2022)

Exports from Cyprus (Flag) to Italy (Flag) (2022)

Market Competitiveness

Color
Italy
Top DestinationGermany$78.5B
Cyprus
Top DestinationHong Kong$482M

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

In 2022, countries that imported more from Italy than Cyprus included Germany ($78.5B), United States ($68.2B), and France ($63.8B).

In 2022, countries that imported more from Cyprus than Italy included Liberia ($255M) and Seychelles ($70.8M).

Difference in imports from Cyprus (Flag) and Italy (Flag) (2022)

Comparative Advantage Italy - Cyprus

Flow
Scale

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

During 2022, Italy had a large net trade with Cyprus in the exports of Mineral Products ($421M), Transportation ($159M), and Machines ($137M).

During 2017, Cyprus had a large net trade with Italy in the exports of Transportation ($13.1M), Machines ($11.5M), and Vegetable Products ($10.1M).

Bilateral Service Trade

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.

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.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Italy (Flag) and Cyprus (Flag) (2022)

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