The cost of exports will amount from about € 24m to about 28m euros.
On alert and the Cyprus issue after the imposition of US duties, although Trading between Cyprus and US are moving low. However, Cyprus is expected to be affected both directly and indirectly.
Specifically, speaking on the “P” radio and the “Second Look” show, OEB Economics and Administration Director Antonis Fragoudis codified the range of trade between Cyprus and the US, while clarifying that Cyprus is not a small landfill.
According to the Director of Economics and Administration of the OEB, imports from the US to Cyprus amount to only 2% of total imports, while exports to the US are at the level of 1% of Cyprus’s total exports.
More immediately, the wave of duties will be affected by dairy products, with exports of around € 9.5 million, electrical equipment with 4-5 million euros exports, cocoa content, with € 1.5 million, and 800 million euros of exports of € 50,000, and more than € 50,000 and more than € 50,000. smaller amounts.
At the same time, the Cypriot economy will be indirectly influenced by the tariffs of steel and aluminum, which will affect imports in Cyprus due to dependence on the introduction of raw materials from abroad.
Mr Fragoudis concluded that he believes that Trump will not cause panic in the Cypriot economy.
Based on 2024 statistics that record exports to the US of around € 24 million, and since Cyprus -US trade will move to the same level and this year, it is estimated that with the imposition of 20%, the cost of exports will amount to around € 24 million to about € 28 million.