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Cyprus Trade Deficit Widens In 2025 Amid Shifting Import And Export Dynamics

by THEFUTURE.TEAM

January 9, 2026

Overview Of Cyprus Trade Imbalance

In a revealing economic report, Cyprus experienced a significant widening of its trade deficit, reaching €7.28 billion during the first eleven months of 2025. The disparity is predominantly due to robust imports outpacing exports, as outlined in provisional data released by the Cyprus Statistical Service (Cystat).

Fluctuations In Import Activity

Data from November 2025 indicates that total imports of goods totaled €1.04 billion, marking a 10.6% decline when compared with €1.16 billion recorded in November 2024. Imports sourced from other EU member states were valued at €595.70 million, while goods originating from third countries amounted to €442.70 million—down from €657.50 million and €503.90 million respectively in the corresponding period of the previous year.

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Notably, the transfer of economic ownership of vessels was a minor component of November imports, valued at €10.00 million as opposed to €138.70 million in the prior year, underscoring a shift in this niche segment of trade.

Export Growth And Regional Shifts

Despite the overall trade deficit, export activity showed positive momentum. In November 2025, total exports reached €407.10 million, a 6.3% increase over the €382.90 million reported in November 2024. Exports to EU member states were valued at €106.50 million, whereas exports to third countries were classified at €300.60 million—up from €83.10 million and €299.80 million respectively in the previous year.

In the context of vessel transfers, November exports included a €42.60 million transaction, down from €55.50 million a year earlier, indicating sector-specific challenges.

Annual Trade Performance And Sector Analysis

For the period spanning January to November 2025, Cyprus recorded total goods imports of €12.31 billion, reflecting a 9.9% year-on-year increase from €11.20 billion. Simultaneously, total exports for the period rose to €5.03 billion, a 4.5% increase from €4.81 billion in the corresponding period of 2024. Consequently, the overall trade deficit widened to €7.28 billion, compared with €6.39 billion in 2024.

Monthly snapshots, such as the final data for October 2025, reveal that imports dropped 8.9% from €1.27 billion in October 2024 to €1.15 billion in October 2025. Meanwhile, exports of domestically produced products, which include essential items for ships and aircraft, slipped by 16.4% from €296.40 million to €247.70 million. Domestic industrial product exports also saw a decline, falling from €289.00 million to €238.70 million, whereas agricultural exports nudged upward from €6.10 million to €7.80 million. Additionally, exports of foreign products experienced a 4.7% decrease from €150.40 million to €143.30 million.

Sector-Specific Export Highlights

Among the principal exports of domestically produced goods—excluding stores and provisions for ships and aircraft—the leading categories for January to October 2025 were mineral fuels and oils, which stood at €2.00 billion, halloumi cheese at €309.70 million, and pharmaceutical products at €289.70 million. These figures underscore the varied and strategic nature of Cyprus’s export economy.

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Mortgage And Business Loan Rate Dynamics Among Cyprus Banks

by THEFUTURE.TEAM

January 17, 2026

Stable Mortgage Loan Rates Post-Mergers

Recent consolidations in the Cyprus banking sector have led to a striking uniformity in mortgage loan interest rates. For example, data from November 2025 reveal that Bank of Cyprus, Eurobank Ltd, and Ancoria Bank are all offering an average rate of 2.98%. Alpha Bank even offers a marginally lower rate of 2.81% for home purchases, whereas smaller market players continue to provide loans at higher costs.

Differentiated Business Loan Offerings

In contrast, business loan interest rates demonstrate greater variability. For loans up to €1 million, Alpha Bank offers the most competitive rate at 3.31%, followed by the National Bank of Greece (Cyprus) at 3.78% (NBG Cyprus). Eurobank Ltd, Kyprian Bank of Development, and Bank of Cyprus post higher averages at 4.00%, 4.46%, and 4.47% respectively, while Societe Generale Bank Cyprus and Banque SBA register even steeper rates at 6.05% and 6.54%.

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For loans exceeding €1 million, the trend remains similar: Alpha Bank leads with 3.64%, trailed by National Bank of Greece (Cyprus) at 3.99% and Bank of Cyprus at 4.18%. Eurobank Ltd and Kyprian Bank of Development follow with rates of 4.54% and 4.30%, whereas Societe Generale Bank Cyprus stands out with an average rate of 6.23%.

Competitive Deposit Rates Reflect High Liquidity

Deposits in Cyprus are offered at some of the lowest interest rates in the Eurozone, a situation that reflects the exceptionally high liquidity across the local banking systems. With a Liquidity Coverage Ratio (LCR) recorded at 319% in November 2025, well above the Eurozone median of 191%, major institutions such as Bank of Cyprus, Eurobank Ltd, and Alpha Bank feature household deposit averages of 0.67%, 1.11%, and 1.36% respectively.

Meanwhile, smaller banks including Ancoria Bank, National Bank of Greece (Cyprus), and Kyprian Bank of Development report higher deposit rates of 1.47%, 1.49%, and 1.25% respectively. For business term deposits (up to one year), Ancoria Bank offers the highest average rate at 1.51%, closely followed by Alpha Bank at 1.43%. Other institutions maintain averages between 1.12% and 1.42%, underscoring a competitive yet stratified market landscape.