Cyprus

Europe
Cyprus world map

Trade in Cyprus

Cyprus was the world’s 125th largest exporter of goods and 46th largest exporter of commercial services in 2022. Export values were $4.36 billion and $21.22 billion USD respectively. Cyprus’s top export category was Manufactures, followed by Machinery and transport equipment, and Transport equipment. In 2022, Cyprus’s main export destination markets for goods and services trade were to Greece, Liberia and United Kingdom, with trade representing 189.76 per cent of GDP. In terms of imports, Cyprus is the world’s 108th largest importer of goods and 55th largest importer of commercial services. Import values were $12.21 billion and $15.13 billion USD respectively in 2022. Cyprus’s top import category was Manufactures, followed by Machinery and transport equipment and Fuels and mining products. Leading import partners were Greece, United Kingdom and Italy. Cyprus is part of 47 different Regional Trade Agreements, including EU – Albania and EU – Algeria.

 

Regional Trade Agreements Database

General Information

This section includes general information on the economy, legal system, official languages and links to additional demographic information.

Official Name

Cyprus

Abbreviation

CY

Capital

Nicosia

WTO Membership Date

30 July 1995

Legal System

mixed legal system of English common law and civil law with European law supremacy

Language

Greek, Turkish

Number of Time Zone(s)

1

Additional Information

Financial Information

This section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance.

Currency

Euro

Exchange Rate

 Google Finance Currencies

GTFP Confirming Banks

Through the IFC's Global Trade Finance Program (GTFP) bank network, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance and reduce cash collateral requirements. This extends and complements the capacity of banks to deliver trade finance by providing risk mitigation on a per-transaction basis in challenging markets where trade lines may be limited.

  • Bank of Beirut Cyprus - Limassol, Cyprus - SWIFT: BABECY2N

  • Byblos Bank SAL Cyprus Branch - Limassol, Cyprus - SWIFT: BYBACY2I

  • Eurobank EFG Cyprus Ltd - Nicosia, Cyprus - SWIFT: EFGBCY2N

Contact Information

This section includes contact information for business support organizations and national resources.

Business Support Organizations

Copyright Offices

  • Department of Registrar of Companies

  • And Intellectual Property

  • Ministry of Energy, Commerce and Industry

Industrial Property Offices

  • Department of Registrar of Companies

  • And Intellectual Property

  • Ministry of Energy, Commerce and Industry

SPS Enquiry Points

Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements.

  • Ministry of Agriculture, Natural Resources and Environment
    Phone: +(357) 2240 8317
    Website: http://www.moa.gov.cy

    [email protected]

TBT Enquiry Points

Technical Barriers to Trade (TBT) enquiry points are government agencies designated to answer questions about trade requirements.

  • Cyprus Organization for the Promotion of Quality
    Ministry of Energy, Commerce, Industry and Tourism.
    Phone: +(357) 22 409 353
    Website: http://www.cys.mcit.gov.cy

    Andrea Araouzou 13 - 15
    Nicosia

    [email protected], [email protected]

Additional Information

 ePing alert

Links to other helpful resources

This section includes additional links to trade-related resources.

National Tariff Finder

 https://www.mof.gov.cy/mof/customs/customs.nsf/ced06_en/ced06_en?OpenDocument

Trade Information Portal

 https://www.mof.gov.cy/mof/customs/customs.nsf/ced04_en/ced04_en?opendocument

Last Reviewed: June, 2024

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