Cyprus-France Bilateral Trade Analysis 2023
Complete trade statistics: $406.09M total volume •Cyprus deficit: $208.91M
Cyprus → France
$98.59M
Exports (2023)
France → Cyprus
$307.50M
Imports (2023)
Trade Balance
$208.91M
Deficit for Cyprus
Total Trade
$406.09M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Cyprus and France. 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-France commercial relationship and competitive positioning in global markets.
Cyprus → France Exports
Export Market Intelligence
🎯 Strategic Export Focus
Cyprus's export portfolio to France demonstrates strategic specialization, with medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale representing a key competitive advantage in this bilateral market.
France → Cyprus Imports
Import Dependency Profile
📦 Import Strategy Analysis
Cyprus's import pattern from France reveals significant dependencyin petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Cyprus demonstrates competitive strength in exportingmedicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale to France, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $406.09M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Cyprus-France Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $406.09 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Cyprus maintains a deficit of $208.91 million
- Export Focus: Cyprus's primary exports include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, fruit, edible: raspberries, blackberries, mulberries, loganberries, black, white or red currants and gooseberries, uncooked or cooked, whether or not containing added sugar or other sweetening matter, dairy produce: cheese (not grated, powdered or processed), n.e.c. in heading no. 0406
- Import Dependencies: Key imports from France include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric power, optical appliances and instruments: telescopic sights for fitting to arms: periscopes: telescopes designed to form parts of machines, appliances, instruments or apparatus of this chapter
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 $406.09M 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 medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
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 medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail salecomplements France's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $406.09M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $406.09M 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 $406.09 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale and petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Cyprus's trade deficit of $208.91 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 France represents a total trade volume of $406.09 million in 2023. This partnership demonstrates an unfavorable trade balance for Cyprus, with imports exceeding exportsby $208.91 million.
Export Strengths
Cyprus's exports to France total $98.59 million, with competitive advantages in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, representing $32.89M or33.4% of bilateral exports.
Import Dependencies
Imports from France amount to $307.50 million, highlighting economic interdependence in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, with Petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils comprising6.5% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Cyprus's strategic sourcing from France. 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 France in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023