Cyprus-Bulgaria Bilateral Trade Analysis 2023
Complete trade statistics: $226.14M total volume •Cyprus deficit: $97.28M
Cyprus → Bulgaria
$64.43M
Exports (2023)
Bulgaria → Cyprus
$161.71M
Imports (2023)
Trade Balance
$97.28M
Deficit for Cyprus
Total Trade
$226.14M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Cyprus and Bulgaria. Green line shows exports from Cyprus, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Cyprus-Bulgaria commercial relationship and competitive positioning in global markets.
Cyprus → Bulgaria Exports
Export Market Intelligence
🎯 Strategic Export Focus
Cyprus's export portfolio to Bulgaria demonstrates strategic specialization, with taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves representing a key competitive advantage in this bilateral market.
Bulgaria → Cyprus Imports
Import Dependency Profile
📦 Import Strategy Analysis
Cyprus's import pattern from Bulgaria reveals significant dependencyin iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Cyprus demonstrates competitive strength in exportingtaps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves to Bulgaria, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $226.14M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Cyprus-Bulgaria Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $226.14 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Cyprus maintains a deficit of $97.28 million
- Export Focus: Cyprus's primary exports include taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, copper: waste and scrap
- Import Dependencies: Key imports from Bulgaria include iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling, iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, n.e.c. in heading no. 7214, other than of rectangular cross-section, oil-cake and other solid residues: whether or not ground or in the form of pellets, resulting from the extraction of sunflower seed oils
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $226.14M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Cyprus leveraging its comparative advantages in taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Cyprus's specialization in taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valvescomplements Bulgaria's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $226.14M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $226.14M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $226.14 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves and iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Cyprus's trade deficit of $97.28 million impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Cyprus and Bulgaria represents a total trade volume of $226.14 million in 2023. This partnership demonstrates an unfavorable trade balance for Cyprus, with imports exceeding exportsby $97.28 million.
Export Strengths
Cyprus's exports to Bulgaria total $64.43 million, with competitive advantages in taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves, representing $18.54M or28.8% of bilateral exports.
Import Dependencies
Imports from Bulgaria amount to $161.71 million, highlighting economic interdependence in iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling, with Iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling comprising12.4% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Cyprus's strategic sourcing from Bulgaria. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Cyprus and Bulgaria in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023