Cyprus-Israel Bilateral Trade Analysis 2023
Complete trade statistics: $815.36M total volume •Cyprus deficit: $531.90M
Cyprus → Israel
$141.73M
Exports (2023)
Israel → Cyprus
$673.63M
Imports (2023)
Trade Balance
$531.90M
Deficit for Cyprus
Total Trade
$815.36M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Cyprus and Israel. 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-Israel commercial relationship and competitive positioning in global markets.
Cyprus → Israel Exports
Export Market Intelligence
🎯 Strategic Export Focus
Cyprus's export portfolio to Israel demonstrates strategic specialization, with cement: portland, other than white, whether or not artificially coloured representing a key competitive advantage in this bilateral market.
Israel → Cyprus Imports
Import Dependency Profile
📦 Import Strategy Analysis
Cyprus's import pattern from Israel 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 exportingcement: portland, other than white, whether or not artificially coloured to Israel, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $815.36M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Cyprus-Israel Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $815.36 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Cyprus maintains a deficit of $531.90 million
- Export Focus: Cyprus's primary exports include cement: portland, other than white, whether or not artificially coloured, cement clinkers (whether or not coloured), gypsum: anhydrite
- Import Dependencies: Key imports from Israel 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, aeroplanes and other aircraft: of an unladen weight exceeding 15,000kg, basketwork, wickerwork and other articles: of non-vegetable materials, made directly to shape from plaiting materials or made up from goods of heading no. 4601
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 $815.36M 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 cement: portland, other than white, whether or not artificially coloured.
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 cement: portland, other than white, whether or not artificially colouredcomplements Israel'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 $815.36M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $815.36M 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 $815.36 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in cement: portland, other than white, whether or not artificially coloured 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 $531.90 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 Israel represents a total trade volume of $815.36 million in 2023. This partnership demonstrates an unfavorable trade balance for Cyprus, with imports exceeding exportsby $531.90 million.
Export Strengths
Cyprus's exports to Israel total $141.73 million, with competitive advantages in cement: portland, other than white, whether or not artificially coloured, representing $38.20M or27.0% of bilateral exports.
Import Dependencies
Imports from Israel amount to $673.63 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 comprising87.0% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Cyprus's strategic sourcing from Israel. 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 Israel in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023