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Halloumi, Fuels And Medicines Remain Cyprus’ Top Export Products Amid Growing Trade Deficit

Cyprus continues to shine in its export sectors with halloumi cheese, mineral fuels, and pharmaceutical products leading the charge. However, the nation is grappling with an expanding trade deficit that reached €5.88 billion in the first nine months of 2025, according to provisional figures from the Cyprus Statistical Service (Cystat).

Rising Import And Export Figures

September 2025 witnessed a marked increase in imports, with the total figure hitting €1.21 billion—a notable 22.5% jump over September 2024’s €986.30 million. Imports from EU partners and third countries were relatively balanced at €612.50 million and €595.50 million respectively, bolstered further by a significant €35.60 million transfer in economic vessel ownership, up from €30.40 million in the previous year.

Export figures in the same month painted a more robust picture. Total exports reached €497.40 million, a 40.5% increase from €354.10 million in September 2024. Exports to EU nations and third countries grew to €173.60 million and €323.80 million respectively, fuelled in part by an impressive jump in the economic transfer of vessels, from €42.20 million to €108.00 million.

Sectoral Export Strengths

Analysis of the January–August period reveals consistent strengths in domestically produced goods. Leading export categories include mineral fuels and oils at €1.67 billion, halloumi cheese at €262.90 million, and pharmaceutical products at €228.90 million. Meanwhile, exports of domestically produced goods, particularly stores and provisions for ships and aircraft, saw substantial rises, indicating a dynamic market environment.

Revised Figures And Broader Economic Implications

Additional data from August 2025 underscores the evolving trade landscape. Imports for August climbed to €1.12 billion, a 13.7% increase over the €981.82 million in August 2024, while exports of domestically produced products soared by 105.8% year-over-year. Despite a slight dip in agricultural exports, these developments affirm the resilience and adaptability of Cyprus’ export sectors.

These provisional figures provide valuable economic insights for policymakers and investors alike, highlighting both the strengths of key export segments and the broader challenges posed by an expanding trade deficit in a complex global market.

SEC Drops Lawsuit Against Gemini: A Major Turning Point In Crypto Regulation

SEC Dismisses Legal Action Against Gemini

The Securities and Exchange Commission has formally withdrawn its lawsuit against Gemini, the prominent crypto exchange founded by twins Cameron and Tyler Winklevoss. The move follows a joint court filing in which both the regulator and Gemini sought dismissal of the case that centered on the collapse of the Gemini Earn investment product, a debacle that left investors without access to their funds for 18 months.

Settlement And Regulatory Reassessment

In a significant development, a 2024 settlement between New York and Gemini ensured that investors recovered one hundred percent of their crypto assets loaned through the Gemini Earn program. The legal reprieve comes on the heels of actions initiated by New York Attorney General Letitia James, who accused Gemini of defrauding investors.

Political Backdrop And Industry Implications

This dismissal reinforces a broader trend of regulatory leniency toward the crypto sector noted during the Trump administration, which saw the SEC dismiss, pause, or reduce penalties in more than 60 percent of its pending crypto lawsuits. Meanwhile, Gemini’s recent public offering filing underscores its ambitions to solidify its status as a major player in the evolving digital asset market.

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