Cyprus

Europe
Cyprus world map

Trade in Cyprus

Cyprus was the world’s 112nd largest exporter of goods and 44th largest exporter of commercial services in 2021. Export values were $3.9 and $18.1 billion USD respectively. Cyprus’s top export category was manufactures, followed by fuels and mining products, and agricultural products. In 2020, Cyprus’s main export destination markets for goods and services trade were to Greece, Liberia and the the United Kingdom, with trade representing 164.16 per cent of GDP. In terms of imports, Cyprus is the world’s 89th largest importer of goods and 54th largest importer of commercial services. Import values were $10.3 and $12.8 billion USD respectively in 2021. Cyprus’s top import category was manufactures, followed by fuels and mining products and agricultural products. Leading import partners were Greece, the the United Kingdom and Italy. Cyprus is a member of the European Union, which is part of 45 different Regional Trade Agreements, including with Central America, Pacific States and Eastern and Southern Africa States.
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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

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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

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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, 2023

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