Breaking news

Cyprus’ Escalating Trade Deficit Amid Robust Export Surge

by THEFUTURE.TEAM

June 10, 2025

Overview Of The Trade Landscape

Preliminary figures from the Cyprus Statistical Service reveal that Cyprus recorded a trade deficit of €2.61 billion between January and April 2025, up from €2.46 billion during the same period last year. Despite a significant surge in exports, the widening deficit reflects the pressures of a rapidly expanding import sector.

Import And Export Dynamics

Data for the first four months of 2025 indicate total imports of €4.36 billion, a near 19 percent increase from €3.67 billion in 2024, while exports rose sharply by 45.1 percent to €1.74 billion, from €1.20 billion the previous year. This divergence underscores the dual forces at play—an aggressively growing export market and mounting import demands.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Month-By-Month Analysis

In April 2025, imports reached €1.16 billion, marking a 4.4 percent increase over April 2024. Notably, imports from EU member states climbed to €715.9 million, compared to €661.3 million, whereas those from third countries experienced a marginal decline. This month also saw the inclusion of ship and aircraft ownership transfers valued at €142.6 million, slightly down from €151 million.

Export performance in April demonstrated a 10.7 percent year-on-year increase to €390 million, despite a minor contraction in exports to EU nations. In contrast, exports to third countries surged, reflecting enhanced market penetration beyond the EU.

March Highlights And Sectoral Shifts

Finalized figures for March 2025 illustrated a 24.5 percent rise in total imports, reaching €1.03 billion, up from €828.1 million in March 2024. Exports of domestically produced goods, including stores and provisions for maritime and aviation needs, soared by 87.4 percent to €283.4 million, while industrial product exports also nearly doubled. Agricultural exports maintained marginal growth, and foreign product exports, inclusive of supplemental provisions, increased by over 21 percent.

Implications For The Cypriot Economy

The evolving trade metrics signal a complex economic environment where increased export capacity is offset by a steeper import curve. Investors and policymakers alike must carefully consider the structural adjustments necessary to rebalance Cyprus’ trade equations, particularly as global market conditions fluctuate.

The Future Forbes Realty Global Properties

Bank Of Cyprus Launches Cybersecurity Programme For Students In Limassol

by THEFUTURE.TEAM

March 31, 2026

Bank of Cyprus launched a cybersecurity initiative in Limassol as part of its “The Young Ask and Provide Solutions” programme, involving students in simulated cyberattack scenarios. The programme focuses on practical training in cyber defense and awareness of risks linked to digital infrastructure.

Innovative Collaboration And Real-World Challenges

In partnership with the Education Ministry and non-profit organization TechIsland, the programme provided a robust platform for young minds to confront realistic cyberattack simulations. Held at the modern Limassol regional offices of the Bank of Cyprus, the interactive space enabled 60 secondary school students from across the region to collaboratively tackle the complex threats facing national digital infrastructure.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Practical Exercises And Strategic Insights

Participants took part in workshops built around cyberattack scenarios. Tasks included identifying prevention strategies, planning response measures, and proposing public awareness approaches. The exercises focused on coordination and decision-making during cyber incidents.

Empowering Tomorrow’s Leaders

According to Elli Ioannidou, the programme is designed to combine theoretical knowledge with practical experience. She said the initiative aims to help students understand real-world challenges and develop problem-solving skills. Additional input was provided by Marios Stavrou, who noted that managing cyber incidents requires coordination across multiple teams and functions.

Building A Resilient Cyber Ecosystem

Experts, including Mathaios Panteli and Tanya Romanyukha highlighted the importance of early digital skills and cybersecurity awareness. Their comments focused on preparing the future workforce skills needed for managing digital risks. The programme forms part of broader efforts to strengthen cybersecurity awareness and education in Cyprus.

The Bank of Cyprus remains committed to investing in forward-thinking initiatives that inspire youth and enhance community awareness. Through these targeted efforts, the bank is not only addressing immediate security challenges but also contributing to a future where advanced technology and robust cyber defense mechanisms coexist seamlessly.