Cyprus, a Mediterranean island known for its cultural heritage, also plays a role in the global tea trade.
Tea Exports from Cyprus
In 2021, Cyprus exported tea valued at $162,000, positioning itself as the 109th largest tea exporter globally. Among Cyprus’s range of exported goods, tea ranked as the 519th most exported product during the same year. The primary destinations for Cyprus’s tea exports included Greece, accounting for $142,000, followed by Germany at $6,430, the United Kingdom at $4,520, Poland at $2,160, and Gambia at $2,010.
Emerging Export Markets
Cyprus experienced notable growth in tea exports between 2020 and 2021, particularly in emerging markets. The fastest-growing export markets for Cyprus’s tea during this period were Greece, witnessing a significant increase of $66,600, followed by Germany at $5,910 and the United Kingdom at $4,430. These figures highlight Cyprus’s expanding presence and growing demand for its tea in these emerging markets.
Tea Imports into Cyprus
In 2021, Cyprus imported tea valued at $4.44 million, placing it as the 102nd largest tea importer globally. Tea ranked as the 368th most imported product in Cyprus during the same year. Cyprus’s primary sources of tea imports included Turkey at $1.15 million, Germany at $808,000, Greece at $603,000, the United Kingdom at $392,000, and Sri Lanka at $388,000.
Emerging Import Markets
Cyprus’s tea imports experienced significant growth between 2020 and 2021, reflecting diversification in tea sources. The fastest-growing import markets for tea in Cyprus during this period were Germany, witnessing an increase of $411,000, followed by Greece at $249,000 and Sri Lanka at $86,000. These figures illustrate Cyprus’s increasing reliance on these emerging tea import markets.
In 2019, the average tariff for tea in Cyprus stood at a mere 0.3%. Among the countries imposing the highest import tariffs on tea in Cyprus were the Republic of the Congo, Algeria, Western Sahara, Gabon, and Libya, all applying a Most Favoured Nation duty rate treatment of 0.8%. These tariff policies have minimal impact on the cost dynamics of tea trade in Cyprus.
|Asia||United Arab Emirates||314,905|
|North America||United States||1,359|
Vietnam Tea: A Popular and Reliable Choice for Cyprus’s Imports
Vietnam tea has consistently been a popular and trustworthy choice for Cyprus, thanks to its premium quality and competitive pricing. In 2021, Cyprus imported tea from Vietnam with a total value of $21,469, marking a 3% increase compared to the previous year. Vietnam holds a significant position as an important supplier of tea to Cyprus, catering to its tea requirements effectively.
Although Cyprus’s role in the global tea trade is modest, its exports to Greece, Germany, and the United Kingdom demonstrate its contribution to the tea market. Meanwhile, Cyprus’s tea imports from Turkey, Germany, and Greece highlight its reliance on neighboring countries for diverse tea sources. The minimal tariffs on tea imports in Cyprus provide favorable conditions for trade. As Cyprus’s tea industry evolves, nurturing existing trade relationships and exploring emerging markets will be key to seizing new opportunities. Monitoring tariff policies and fostering collaborations will contribute to the long-term growth and sustainability of Cyprus’s tea trade, enriching its position in the global market.