Trade Balance in Cyprus

Cyprus Trade Balance (EUR) | Economic News & Forecasts

Cyprus - Trade Balance (Euros)

Available data suggests that the economic panorama remained subdued in Q3, following the unprecedented GDP drop in Q2. On the external front, tourist arrivals nosedived by more than 80%, on average, in Q3, while merchandise exports dropped markedly in July–August, as Covid-19 continued to suppress foreign demand. On the domestic side, consumers turned only marginally less pessimistic in Q3 compared to Q2—the peak of the health crisis—while the unemployment rate rose in August, likely dragging on household consumption. Moving to Q4, a spike in new Covid-19 infections prompted the government to introduce new restrictions in mid-October, boding ill for recovery at the tail-end of the year. More positively, on 2 October, Fitch Ratings affirmed the country’s BBB- credit rating with a stable outlook, citing its solid governance, strong institutions and sound fiscal policy.

Cyprus - Trade Balance (EUR) Data

2015   2016   2017   2018   2019  
Trade Balance (EUR billion)-3.2  -4.2  -5.0  -4.7  -4.7  

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Cyprus Trade Balance (EUR) Chart


Cyprus Trade
Note: Trade balance (in EUR bn).
Source: National Statistical Service and FocusEconomics calculations.

Cyprus Facts

Value Change Date
Exchange Rate1.120.65 %Dec 31

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