Euro Leads Extra-EU Trade While Dollar Dominates Energy Imports

According to a recent report from Eurostat, the euro remained the leading currency for extra-EU imports of primary goods excluding petroleum in 2025, accounting for 47.4% of total transactions. The United States dollar followed closely with a 45.0% share, highlighting the continued competition between the world’s two dominant trade currencies across international markets.

Strong Performance In Primary Goods Imports

Eurostat data show that the euro continued playing a central role in extra-EU trade involving primary commodities during 2025. Currencies from EU member states outside the eurozone represented just 1.7% of transactions, while other international currencies accounted for the remaining 5.3%, reinforcing the euro’s dominant position in this category.

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USD Dominance In The Energy Sector

In stark contrast, the US dollar overwhelmingly dominated the importation of petroleum products, commanding an 86.7% share in 2025. The euro, while significant in other sectors, lagged substantially in stellar energy trade performance, with only a 12.9% share. Minor roles were played by other EU currencies (0.2%) and non-EU currencies (0.1%), reinforcing the dollar’s preeminence in the energy domain.

Competitive Landscape In Manufacturing Trade

In the realm of manufactured goods, the US dollar again led the way with a 46.2% share of imports. The euro was not far behind, securing 43.3% of the market. Additional contributions came from other EU currencies at 1.7% and non-EU currencies at 8.5%, illustrating the diversified currency usage in this trade segment.

Export Trends: Euro Ascendant Amid Varied Currency Usage

The report further reveals that the euro played a decisive role in extra-EU exports of primary goods, achieving a 62.2% share compared to the US dollar’s 22.9%. Contributions from other domestic EU currencies (2.5%) and non-EU currencies (12.1%) complemented the overall export transactions. In petroleum exports, however, the US dollar remained dominant with a 70.1% share. The euro managed a notable 27.5% share in this energy category.

Manufactured Goods Exports

In manufactured goods exports, the euro maintained its lead with a 50.4% share, while the U.S. dollar represented 32.4% of transactions. Other EU currencies accounted for 1.8%, with non-EU currencies making up the remaining 15.2%, highlighting continued diversification in international trade settlement practices.

The latest Eurostat figures illustrate the euro’s strong position across large segments of extra-EU trade, even as the U.S. dollar continues dominating energy-related transactions and maintains a major role in global manufacturing trade.

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Keve Welcomes New Cyprus Business Development Organisation

by THEFUTURE.TEAM

July 17, 2026

The Cyprus Chamber of Commerce and Industry (Keve) has welcomed Parliament’s unanimous approval of legislation establishing the Cyprus Business Development Organisation, describing it as a major step toward improving access to finance for small and medium-sized enterprises, startups and self-employed professionals.

Expanding Access To Finance

The legislation creates a new public body aimed at addressing financing gaps by supporting businesses that struggle to secure funding through traditional channels.

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According to Keve, the initiative could strengthen entrepreneurship, boost competitiveness and support Cyprus’ green and digital transition. The chamber has long argued that SMEs rely too heavily on bank financing, limiting investment, expansion and innovation.

Keve Calls For Swift Implementation

Keve said it helped shape the legislation through the consultation process and called for the organisation to become operational as quickly as possible. It also pledged to continue working with the Finance Ministry and the organisation’s management to support implementation.

How The Organisation Will Operate

Approved by Parliament on Tuesday, the legislation establishes Cyprus’ national business development body under the supervision of the Finance Minister, while the Central Bank of Cyprus will oversee anti-money laundering compliance.

The organisation will design financing programmes, provide loans and conduct studies to identify weaknesses in the financing market.

Cyprus will provide €60 million in initial capital. Over time, the body will also be able to raise funding from European and international institutions and benefit from state guarantees linked to approved strategic priorities.

Recovery Plan Milestone

Creation of the organisation is one of the final milestones under Cyprus’ Recovery and Resilience Plan and is required for the country to receive the plan’s ninth and final payment. Appointment of the board of directors remains the last outstanding step.

Before approving the bill, the Finance Ministry revised the draft following consultations with MPs and stakeholders. The changes removed provisions allowing the organisation to establish companies and narrowed the list of eligible beneficiaries by excluding small mid-cap companies.

Lawmakers also strengthened governance rules by introducing stricter board suitability requirements, conflict-of-interest safeguards, enhanced reporting obligations and borrowing limits. A seven-member board appointed by the Cabinet will oversee the organisation, while a transitional board will serve for two years until it becomes fully operational.

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