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Cyprus Wholesale Trade Rises While Vehicle Sales Weaken In Early 2026

by THEFUTURE.TEAM

Overview

Trade activity in Cyprus showed diverging trends during the first quarter of 2026, according to data released by the Cyprus Statistical Service (Cystat). While wholesale trade excluding motor vehicles recorded strong growth, the sector covering the sale and repair of motor vehicles declined.

Wholesale Trade Performance

Wholesale trade excluding motor vehicles increased by 11.2% year on year, with the turnover value index reaching 142.8 points. Strong growth was recorded across several categories. Specialized wholesale trade expanded by 19.0%, while household goods wholesale rose by 14.9%. Turnover in information and communication equipment increased by 10.4%, and machinery and equipment wholesale registered growth of 8.1%.

Moderate gains were also observed in more traditional segments. Food, beverages and tobacco wholesale increased by 4.3%, while non-specialized wholesale trade advanced by 4.9%. Wholesale on a fee or contract basis was the only category to register a decline, with turnover falling by 18.5%.

Motor Vehicles Sector Trends

By contrast, turnover in the motor vehicles sector declined by 3.6% compared with the first quarter of 2025, with the index standing at 153.0 points. Much of the decrease was driven by lower motor vehicle sales, which fell by 9.4% to 159.5 points. Despite the broader slowdown, several segments recorded growth. Maintenance and repair activities increased by 3.4%, lifting the index to 143.1 points, while sales of motor vehicle parts and accessories rose by 6.4% to 149.3 points. Motorcycles recorded the strongest performance within the category, with turnover increasing by 13.7%.

Conclusion

Data for 2021, the reference year, highlight differing trends across sectors of the Cypriot economy. Wholesale trade continued to expand during the first quarter of 2026, while activity in the motor vehicles sector weakened, reflecting varying market conditions across different industries.

Italy And Cyprus Deepen Maritime Cooperation With Limassol Business Forum

by THEFUTURE.TEAM

Italy and Cyprus are stepping up cooperation in shipping, port development and maritime investment, with a business forum in Limassol bringing together policymakers, shipowners and industry leaders to explore new commercial opportunities.

The Italy-Cyprus Maritime Business Forum, organised by the Italian Embassy in Nicosia, will take place at 9 a.m. on Friday, October 9, at the DP World Cruise Terminal in Limassol. Discussions will focus on sustainable ports, shipping regulation and international maritime corridors, with three panels connecting public-sector priorities with private investment and industry expertise.

A Strategic Partnership For Maritime Growth

The forum aims to strengthen ties between shipowners, ship managers, shipyards, port operators, insurers and maritime service providers in the two countries, with a focus on infrastructure, technology and investment.

Shipping accounts for about 7% of Cyprus’ GDP, while the wider blue economy contributes roughly 25%, according to figures cited by the organisers. Beyond shipping, the sector includes coastal tourism, fisheries and aquaculture, making maritime development an important part of Cyprus’ broader economic strategy.

Italy offers complementary strengths in shipbuilding, maritime logistics and insurance. Its shipbuilding exports exceeded €5 billion in 2025, while Italian companies accounted for 56% of global superyacht orders by volume and 36% by value.

Together, the two countries bring different but complementary capabilities: Cyprus as an international shipping hub and Italy as a major source of industrial expertise, maritime technology and shipbuilding capacity.

From Maritime Links To Commercial Opportunities

Italian ambassador to Cyprus Antonella Cavallari said the two countries should use their longstanding maritime ties to build a broader economic partnership.

“The sea has always connected Italy and Cyprus, and today it can become the engine of an even more ambitious economic partnership,” she said.

Cavallari said the forum is intended to turn this potential into practical projects, including partnerships between companies, ports and port cities, while exploring future trade routes such as the India-Middle East-Europe Economic Corridor (IMEC).

Focus On Sustainable Ports And Shipping

The opening panel will examine how ports can support economic development while meeting European environmental requirements and integrating more effectively with surrounding cities.

A second session will focus on shipping management, regulatory compliance, maritime safety and industry best practices, bringing together representatives from shipowners, ship management companies, the Cyprus Shipping Chamber and DP World Limassol.

The final panel will turn to international maritime cooperation and investment in ports and terminals, with particular attention to emerging shipping corridors and IMEC.

Cyprus’ Role In IMEC

Cyprus’ position within the proposed India-Middle East-Europe Economic Corridor will be among the key topics of the final discussion. The initiative aims to improve connectivity between India, the Middle East and Europe and could create new opportunities for ports and logistics hubs across the region.

Rona Panteli, Cyprus’ IMEC representative and head of the Connectivity Unit at the Foreign Ministry, will join the discussion alongside representatives of the Port System Authority of the Eastern Adriatic Sea, Cyprus Ports Authority, Invest Cyprus and the Italian-Cypriot Chamber of Commerce.

Building A Broader Maritime Ecosystem

Beyond the formal panels, the forum is designed to connect Italian and Cypriot businesses and encourage partnerships across shipping, logistics and maritime services.

The event is organised with the Italian Trade Agency (ICE), the Italian-Cypriot Chamber of Commerce, the Cyprus Chamber of Commerce and Industry (Keve), the Cyprus Shipping Chamber (CSC), Invest Cyprus, the Limassol Chamber of Commerce and Industry (Evel) and the Cyprus-Italy Business Association.

DP World and Limassol Municipality are supporting the event, which is being held under the auspices of the Shipping Deputy Ministry.

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