Cyprus

Cyprus ranked No. 145 in total trade value through May with a total of $71.12 million. Exports totaled $46.87 million and Imports totaled $24.26 million, a surplus of $22.61 million.

U.S. trade with Cyprus rose to $61.71 million through May

Cyprus’s trade with the United States rose to $61.71 million through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 41.59 percent below its total trade during the same time period last year. U.S. exports to Cyprus decreased 55.31 percent while U.S. imports from Cyprus rose 29.72 percent. The U.S. surplus with Cyprus was $17.49 million.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Houston; No. 2 Port of Newark; No. 3 Hartsfield-Jackson Atlanta International Airport; No. 4 John F. Kennedy International Airport; and No. 5 Port of New York. During the same period the previous year, the top five were No. 1 Port of Mobile, Ala.; No. 2 Los Angeles International Airport; No. 3 Port of Houston; No. 4 John F. Kennedy International Airport and No. 5 Port of Newark. In the current time period, the top five accounted for 58.69 percent of Cyprus’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Houston rose 159.56 percent to $18.87 million.
    Exports rose 258.89 percent to $17.71 million. Imports fell 50.28 percent to $1.16 million.
  • Trade with No. 2 Port of Newark rose 108.14 percent to $9.68 million.
    Exports rose 68.64 percent to $1.12 million. Imports rose 114.74 percent to $8.55 million.
  • Trade with No. 3 Hartsfield-Jackson Atlanta International Airport rose 329.45 percent to $5.13 million.
    Exports fell 69.32 percent to $338,334. Imports rose 5172.45 percent to $4.79 million.
  • Trade with No. 4 John F. Kennedy International Airport fell 34.87 percent to $4.4 million.
    Exports rose 59.25 percent to $3.7 million. Imports fell 84.21 percent to $700,781.
  • Trade with No. 5 Port of New York fell 19.95 percent to $3.67 million.
    Exports fell 19.06 percent to $3.42 million. Imports fell 30.47 percent to $248,208.

Cyprus ranked No. 145 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 140.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Cyprus by value through May were the categories of Parts for heavy machinery; Miscellaneous machines, parts; Meteorological, hydraulic and survey equipment; Cell phones, related equipment; and Low value shipments, respectively. They accounted for 42.5 percent of total exports to Cyprus.

The value of the top five categories of U.S. imports from Cyprus –– Electrical resistors, except heating resistors; Returned exports, without change; Cheese and curd; Tungsten (Wolfram) & Articles, Incl Waste & S 8101; and Various forms of salt –– accounted for 76.69 percent of all inbound shipments.

Looking more closely at U.S. exports to Cyprus:

  • Parts for heavy machinery rose 550.07 percent compared to last year to $8.77 million.
  • Miscellaneous machines, parts rose 436.05 percent compared to last year to $3.8 million.
  • Meteorological, hydraulic and survey equipment rose 974.25 percent compared to last year to $2.79 million.
  • Cell phones, related equipment rose 189.52 percent compared to last year to $2.31 million.
  • Low value shipments fell 50.48 percent compared to last year to $2.25 million.

Looking more closely at U.S. imports from Cyprus:

  • Electrical resistors, except heating resistors rose 27.51 percent compared to last year to $7.14 million.
  • Returned exports, without change rose 13.34 percent compared to last year to $6.89 million.
  • Cheese and curd rose 43.98 percent compared to last year to $3.34 million.
  • Tungsten (Wolfram) & Articles, Incl Waste & S 8101 totaled $636,519. The previous year, there were no imports in this category.
  • Various forms of salt rose 167.19 percent compared to last year to $595,569.

In the latest annual figures available, Cyprus recorded $277.34 million in trade with the United States. Total U.S. exports to Cyprus were $ 203.82 million and imports from Cyprus were $73.52 million. The U.S. surplus with Cyprus was $130.31 million.