The Republic of Cyprus in the Mediterranean Sea is an island country in the western part of Asia with specific cultural ties with the Southeastern European region. The country with a population of 1.2 million holds itself as the third most populous island of the nation in 2023. The country has been evolving its trade rates over the past few decades to globally grow as a top trade destination. The majority of the import and export trades are based on mechanical and industrial products and the country grows on the accounting factors such as finance and real estate services.
The induced government initiatives in the management authority accompanied by the inbuilt production efficacies of the industries are the significant reason behind the rapid evolution in the trade rates. According to the Cyprus Import Data, the country recorded a GDP of 30 billion US dollars in 2023 with a significant import trade rate of 9.5 billion US dollars.