Cyprus Trade Deficit Narrows To €476.6 Million In January 2026 As Exports Rise

by THEFUTURE.TEAM

March 13, 2026

Economic Overview

Cyprus recorded a notable reduction in its trade deficit in January 2026. According to data from the Cyprus Statistical Service, the deficit narrowed to €476.6 million, compared with €707.5 million in January 2025. The improvement reflects a combination of lower imports and stronger export performance during the period.

Decline In Imports

The latest data from the Cyprus Statistical Service indicates that total imports of goods fell to €994.1 million from €1.15 billion, reflecting a 13.6% decrease over the same period last year. Imports from other European Union member states dropped from €583.0 million to €554.3 million, while those from third countries declined from €568.2 million to €439.8 million. Notably, the transfer of economic ownership of vessels contributed a comparable value both years, registering €79.0 million in January 2026 against €79.9 million in January 2025.

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Resilient Export Performance

On the export front, Cyprus recorded robust gains, with total exports of goods rising to €517.5 million compared to €443.7 million in January 2025, marking a 16.6% year-on-year increase. Exports to other EU states grew from €84.4 million to €97.2 million, and those to third countries surged from €359.3 million to €420.3 million. This improvement was further bolstered by a substantial upturn in the transfer of economic ownership of vessels, which soared to €193.5 million in January 2026 from just €11.3 million in the prior year.

Additional Insights From December 2025

Final data for December 2025 showed similar developments in trade activity. Total imports declined by 9.9%, falling to €1.25 billion from €1.39 billion. Domestic exports, including stores and provisions for ships and aircraft, increased by approximately 9.8% to €274.2 million. Exports of foreign products recorded particularly strong growth, rising 77.7% to €224.2 million, compared with €126.2 million in December 2024.

Yearly Trade Highlights

For the full year 2025, mineral fuels and oils remained the largest export category among domestically produced goods, with exports reaching €2.33 billion. Other major contributors to export activity included halloumi cheese and pharmaceutical products, which recorded export values of €356.9 million and €356.2 million, respectively. The latest figures highlight a shift in Cyprus’ trade balance driven by stronger exports and lower imports during the early months of 2026.

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Cyprus And Greece Outline Joint Tourism Plans For Summer 2026

by THEFUTURE.TEAM

May 1, 2026

Strategic Partnership Enhances Tourism Prospects

The Cyprus Tourism Authority (EOT Cyprus) presented proposals for summer 2026 focused on strengthening tourism cooperation between Cyprus and Greece, with joint efforts aimed at attracting visitors from long-haul markets.

Greece: The Top Destination For Cypriot Travelers

At an event on April 28, Athena Spakouri, Director of EOT Cyprus, said Greece is expected to remain the main travel destination for Cypriot residents, with plans extending beyond established locations to include lesser-known regions. This approach reflects a broader effort to diversify travel options while maintaining strong demand between the two countries.

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Complementary Destinations, Unified Vision

Building on this, Spakouri noted that Cyprus and Greece offer complementary tourism experiences rather than competing directly. Joint programmes are therefore being positioned to attract visitors from markets such as the United States and China, while tourism activity continues to be assessed in the context of broader geopolitical developments.

Robust Air And Sea Connectivity

Supporting this cooperation, Konstantinos Kollias said around 600,000 Cypriots travelled to Greece in 2025. Frequent flights, short travel times, and ferry connections between Limassol and Piraeus continue to facilitate movement between the two countries and sustain travel flows.

Diverse Tourism Offerings for a New Era

Konstantinos Kollias highlighted that Greece’s tourism portfolio spans from traditional seaside holidays to sectors such as cultural, religious, gastronomic, agritourism, ecotourism, spa, conference, and medical tourism.

This range reflects the expansion of tourism offerings across different segments and travel preferences. In parallel, Joseph Iosif referred to Greece as a “second homeland” for Cypriot travellers, pointing to longstanding cultural and travel links between the two countries.

Innovative Programs And Strengthened Connections

Building on this approach, the EOT strategy includes initiatives focused on gastronomic routes, cultural trails, thematic and religious tourism, as well as curated city breaks in destinations such as Athens and Thessaloniki. These programmes were presented at the event alongside references to historical, cultural, and religious connections between Cyprus and Greece, including remarks from Bishop Gregorios of Mesaoria.

Boosting Air Connectivity And Island Accessibility

At the same time, airlines including Aegean Airlines, Sky Express, and Cyprus Airways outlined plans to expand connections between Cyprus and Greece, with a focus on increasing access to island destinations. The event also brought together stakeholders from the Deputy Ministry of Tourism, Hermes Airports, tour operators, and ACTAA, reflecting coordination across different parts of the tourism sector.

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