Cyprus: Imports from UK have dropped by 43 per cent since Brexit

Cyprus’ imports from the UK dropped by 43 per cent as a result of Brexit, yet exports were able to hold their own. These primarily concerned dairy products and fruit & vegetables, and these are still not subject to rules of origin checks.

This was one of the conclusions to emerge from the second online conference on ‘Brexit: What are the repercussions for Cyprus’ organised by FMW Financial Media Way. Other points raised were the impact of Brexit on car imports and issues regarding professional qualifications.

As regards trade, deputy general secretary of the Chamber of Commerce Leonidas Paschalides said that imports from the UK in 2020-2021 were down 43 per cent compared to 2019-2020, from €431 mln to €246 mln.

Cypriot importers have turned to other European countries, with imports from Italy surging 44 per cent, those from the Netherlands up 18 per cent and an increase also observed for German products. The UK had now fallen from third to seventh place as regards imports.

Source: cyprus-mail.com


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