Cyprus Trade Activity Accelerates in June 2025 Amid Elevated Import And Export Growth

by THEFUTURE.TEAM

August 11, 2025

Strong Import Surge In June

Cyprus experienced a remarkable 21.1 percent increase in total imports in June 2025, reaching €1.11 billion compared to €920.3 million a year earlier. Analyzing the figures, imports from third countries surged to €526.7 million from €366.0 million, underscoring a significant realignment in trade channels. Although the transfer of economic ownership of vessels saw a decline, overall import growth remains robust.

Export Expansion And Persistent Trade Deficit

Parallel to the import uptick, exports advanced by 11.9 percent to €506.5 million in June 2025 from €452.5 million in June 2024, bolstered by improved performance both within the European Union and with third country markets. Yet despite this positive export momentum, Cyprus’ trade deficit widened to €3.87 billion in the first half of 2025, compared to €3.65 billion in the previous year.

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

First Half Performance Highlights

For the period spanning January to June 2025, total imports climbed 15.0 percent to €6.50 billion, while total exports surged 31.4 percent to €2.62 billion. This dynamic export growth highlights a period of economic opportunity, even as the widening trade deficit signals ongoing challenges in balancing international trade flows.

May 2025: A Month Of Divergent Trends

In May 2025, a contrasting trend emerged where overall imports decreased by 5.2 percent, registering at €1.01 billion. Domestically produced exports, including stores and provisions for ships and aircraft, rose by 9.5 percent, reflecting sector-specific resilience. However, a decline in domestic agricultural exports and foreign product exports points to the nuanced complexities impacting different segments of the trade ecosystem.

Implications For Strategic Trade Policy

The evolving trade landscape in Cyprus, marked by rapid export growth and escalating imports, demands a strategic review of policy frameworks and business practices. Companies and decision makers must leverage these insights to recalibrate market strategies and address the inherent challenge of a widening trade deficit. The current trends suggest an imperative for adaptive policy measures that foster a balanced growth trajectory in an increasingly interconnected global market.

The Future Forbes Realty Global Properties

Evel Elects New President As Maria Theocharous Takes Over For 2026–2029 Term

by THEFUTURE.TEAM

November 12, 2026

Maria Theocharous has been elected president of the Limassol Chamber of Commerce and Industry (Evel), taking over from Yiannis Tsouloftas for a three-year term covering 2026–2029. Theocharous previously served as the chamber’s vice-president for tourism.

The leadership transition marks a new chapter for one of Cyprus’ main regional business organisations, with the new board set to represent the district’s key economic sectors.

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

New Leadership Emphasises Cooperation

The chamber’s annual meeting brought together government, business and local authority representatives, including Energy, Commerce and Industry Minister Michael Damianos, Cyprus Chamber of Commerce and Industry (Keve) president Stavros Stavrou, Limassol district local government organisation president Yiannis Tsouloftas and Limassol mayor Yiannis Armeftis.

Speakers highlighted the importance of closer cooperation between public authorities and businesses in supporting Limassol’s economic development.

Representatives of the Cyprus Shipping Chamber (CSC) also congratulated Theocharous on her election and thanked the outgoing president for his cooperation. The CSC described Evel as a longstanding partner, noting the chamber’s contribution to Limassol’s business development over more than six decades.

Tsouloftas Reviews Six Years As President

In his final address, Tsouloftas reviewed the chamber’s work between 2020 and 2026, highlighting its advocacy for major infrastructure projects and efforts to address development challenges across the district.

He also outlined initiatives to remove obstacles facing local businesses, accelerate development plans and improve the conditions for economic activity.

Tsouloftas will remain involved as immediate past president, providing continuity during the transition.

New Board Covers Key Business Sectors

The new board includes representatives responsible for the chamber’s main portfolios:

Ilikos Charalambous, vice-president for commerce
Vasos Demetriades, vice-president for industry
Christos Nicolaou, vice-president for services
Nicolas Agiomamitis, vice-president for tourism
Ilias Theodorou, vice-president for finance
Demosthenes Mavrellis, vice-president for innovation and technology
Ilias Neocleous, honorary secretary

Other board members are Minos Agathocleous, Marios Antoniou, George Demetriou, Anastasios Kounoudis, Marios Constantinou, Xanthos Nemptsas, Antonis Pappas, Charalambos Pattichis, Chrysis Petousis, Farah Shammas, Andreas Tsouloftas and Kyriacos Hadjiathanasiou.

Costas Ioannides, Agathi Katsi, Anna Petraki, Filippos Filis and Tonis Hadjiloucas have been appointed members by distinction. The chamber also highlighted the growing participation of women in business leadership and decision-making.

Chamber Recognises Longstanding Contributions

The annual meeting also recognised businesses and individuals for their contributions, including members who have maintained continuous membership for 50 years.

Tributes were paid to three former contributors to the chamber, Tonis Antoniou, Dimi Mavropoulos and Andreas Laou, in recognition of their service.

Under Theocharous’ leadership, Evel begins its 2026–2029 term with a board covering commerce, industry, services, tourism, finance and innovation. Its priorities include continuing to represent Limassol businesses and advocating for the investment and cooperation needed to support the district’s economic growth.