Cyprus Trade Dynamics: Balancing Export Growth Against Import Surge

by News Editor

April 10, 2025

The initial months of 2025 signal a complex economic landscape for Cyprus, driven by robust export performance but overshadowed by a more pronounced rise in imports. According to recent data from the Cyprus Statistical Service, the nation’s trade deficit experienced an increase of €102.7 million, reaching a total of €1.24 billion.

Exports On The Rise

Cyprus saw its goods exports climb by a substantial 55.9%, totaling €913.3 million, thanks to strengthening market presence. February 2025 itself showcased a notable export figure of €476.4 million, representing a 73.8% jump from February 2024.

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Import Surge Expands Deficit

Despite the encouraging export growth, imports surged even higher, growing by 24.8% and reaching €2,160.7 million. The month of February alone witnessed an import volume of €1,027.2 million, marking an 18.9% year-on-year increase.

Diversified Trade: EU And Beyond

EU trade reveals intriguing dynamics with imports from EU members at €560.8 million and third-country imports considerably higher at €466.4 million. February’s export distribution includes €117.4 million to EU partners and €359.0 million to non-EU countries.

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Genikes Insurance Wins Two Global Banking And Finance Awards

by THEFUTURE.TEAM

May 18, 2026

Genikes Insurance received two distinctions at the Global Banking and Finance Awards 2026, winning Best General Insurance Company in Cyprus and Best Insurance Website Cyprus. The awards reflect the company’s position within the Cypriot insurance market as well as its broader digital transformation strategy focused on expanding online services and improving customer experience.

Market Leadership And Digital Transformation

Genikes Insurance has invested in developing a more modern digital platform designed to simplify key insurance services, including policy issuance and online claims management. The company said the upgraded platform aims to improve efficiency and accessibility while strengthening its position within an increasingly competitive insurance sector.

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Customer-Centric Approach

Commenting on the recognition, General Manager Christiana Agrotis said the company continues focusing on reliability, innovation and customer-focused services tailored to the needs of the Cypriot market. According to Agrotis, the recognition of the company’s digital platform also reflects the trust customers place in its services and broader insurance offering.

Technology-Driven Innovation

The updated website was designed to provide simpler navigation and improved access to insurance information and digital services. Company officials said the platform forms part of broader efforts to integrate technology more closely into customer service and operational processes. Genikes Insurance added that it remains focused on strengthening long-term customer relationships while continuing investments in digital capabilities and service development.

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