United Kingdom-Cyprus Bilateral Trade Analysis 2023
Complete trade statistics: $1.77B total volume •United Kingdom surplus: $1.22B
United Kingdom → Cyprus
$1.50B
Exports (2023)
Cyprus → United Kingdom
$273.56M
Imports (2023)
Trade Balance
$1.22B
Surplus for United Kingdom
Total Trade
$1.77B
Combined Volume
Trade Flow Visualization
Direct trade relationship between United Kingdom and Cyprus. Green line shows exports from United Kingdom, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the United Kingdom-Cyprus commercial relationship and competitive positioning in global markets.
United Kingdom → Cyprus Exports
Export Market Intelligence
🎯 Strategic Export Focus
United Kingdom's export portfolio to Cyprus demonstrates strategic specialization, with cruise ships, excursion boats and similar vessels, principally designed for the transport of persons, ferry boats of all kinds representing a key competitive advantage in this bilateral market.
Cyprus → United Kingdom Imports
Import Dependency Profile
📦 Import Strategy Analysis
United Kingdom's import pattern from Cyprus reveals significant dependencyin dairy produce: cheese (not grated, powdered or processed), n.e.c. in heading no. 0406, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
United Kingdom demonstrates competitive strength in exportingcruise ships, excursion boats and similar vessels, principally designed for the transport of persons, ferry boats of all kinds to Cyprus, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $1.77B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: United Kingdom-Cyprus Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $1.77 billionrepresenting a significant bilateral economic relationship
- Trade Balance: United Kingdom maintains a surplus of $1.22 billion
- Export Focus: United Kingdom's primary exports include cruise ships, excursion boats and similar vessels, principally designed for the transport of persons, ferry boats of all kinds, 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 3000cc
- Import Dependencies: Key imports from Cyprus include dairy produce: cheese (not grated, powdered or processed), n.e.c. in heading no. 0406, vegetables: potatoes (other than seed), fresh or chilled, 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
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 $1.77B 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 United Kingdom leveraging its comparative advantages in cruise ships, excursion boats and similar vessels, principally designed for the transport of persons, ferry boats of all kinds.
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
United Kingdom's specialization in cruise ships, excursion boats and similar vessels, principally designed for the transport of persons, ferry boats of all kindscomplements Cyprus's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in dairy produce: cheese (not grated, powdered or processed), n.e.c. in heading no. 0406.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $1.77B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $1.77B 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 $1.77 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in cruise ships, excursion boats and similar vessels, principally designed for the transport of persons, ferry boats of all kinds and dairy produce: cheese (not grated, powdered or processed), n.e.c. in heading no. 0406 demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
United Kingdom's trade surplus of $1.22 billion strengthens 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 United Kingdom and Cyprus represents a total trade volume of $1.77 billion in 2023. This partnership demonstrates a favorable trade balance for United Kingdom, with exports exceeding importsby $1.22 billion.
Export Strengths
United Kingdom's exports to Cyprus total $1.50 billion, with competitive advantages in cruise ships, excursion boats and similar vessels, principally designed for the transport of persons, ferry boats of all kinds, representing $997.03M or66.7% of bilateral exports.
Import Dependencies
Imports from Cyprus amount to $273.56 million, highlighting economic interdependence in dairy produce: cheese (not grated, powdered or processed), n.e.c. in heading no. 0406, with Dairy produce: cheese (not grated, powdered or processed), n.e.c. in heading no. 0406 comprising56.6% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates United Kingdom's competitive position in this bilateral relationship. 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 United Kingdom and Cyprus in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023