Key Market Indicators
Cypriot truck imports are projected to decline to approximately $39 million by 2028, down from around $44 million in 2023. This marks an average annual decrease of 1.7%. The trend of diminishing demand has been ongoing since 1994, with a yearly reduction of 3.9%. On the export front, Cypriot truck exports plummeted to about $475,000 in 2023, a sharp drop from nearly $1.4 million in 2022, representing a 65.4% decline in just one year. Since 1994, the country's truck export supply has seen an average annual decrease of 37.7%. In 2023, Cyprus ranked 80th in the world for truck exports, with Aruba surpassing it at approximately $475,000. Leading the global rankings were the United States, Germany, and France, occupying the second, third, and fourth positions respectively.
