Cyprus-Germany Bilateral Trade Analysis 2023
Complete trade statistics: $914.32M total volume •Cyprus deficit: $679.67M
Cyprus → Germany
$117.32M
Exports (2023)
Germany → Cyprus
$797.00M
Imports (2023)
Trade Balance
$679.67M
Deficit for Cyprus
Total Trade
$914.32M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Cyprus and Germany. 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-Germany commercial relationship and competitive positioning in global markets.
Cyprus → Germany Exports
Export Market Intelligence
🎯 Strategic Export Focus
Cyprus's export portfolio to Germany demonstrates strategic specialization, with dairy produce: cheese (not grated, powdered or processed), n.e.c. in heading no. 0406 representing a key competitive advantage in this bilateral market.
Germany → Cyprus Imports
Import Dependency Profile
📦 Import Strategy Analysis
Cyprus's import pattern from Germany reveals significant dependencyin medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Cyprus demonstrates competitive strength in exportingdairy produce: cheese (not grated, powdered or processed), n.e.c. in heading no. 0406 to Germany, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $914.32M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Cyprus-Germany Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $914.32 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Cyprus maintains a deficit of $679.67 million
- Export Focus: Cyprus's primary exports include dairy produce: cheese (not grated, powdered or processed), n.e.c. in heading no. 0406, vessels: n.e.c. in heading no. 8901, for the transport of goods and other vessels for the transport of both persons and goods, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale
- Import Dependencies: Key imports from Germany include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc, vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc
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 $914.32M 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 dairy produce: cheese (not grated, powdered or processed), n.e.c. in heading no. 0406.
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 dairy produce: cheese (not grated, powdered or processed), n.e.c. in heading no. 0406complements Germany's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $914.32M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $914.32M 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 $914.32 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in dairy produce: cheese (not grated, powdered or processed), n.e.c. in heading no. 0406 and medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Cyprus's trade deficit of $679.67 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 Germany represents a total trade volume of $914.32 million in 2023. This partnership demonstrates an unfavorable trade balance for Cyprus, with imports exceeding exportsby $679.67 million.
Export Strengths
Cyprus's exports to Germany total $117.32 million, with competitive advantages in dairy produce: cheese (not grated, powdered or processed), n.e.c. in heading no. 0406, representing $23.09M or19.7% of bilateral exports.
Import Dependencies
Imports from Germany amount to $797.00 million, highlighting economic interdependence in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, with Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale comprising5.7% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Cyprus's strategic sourcing from Germany. 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 Germany in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023