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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.

Eurobank Plans €1 Billion Investment In AI And Digital Banking By 2028

Eurobank plans to invest about €1 billion in technology from 2025 through 2028, its largest technology investment program to date. The Banking Forward strategy focuses on digital banking, artificial intelligence, customer experience and a “phygital” model combining digital services with face-to-face support.

Digital Banking Dominates Customer Activity

Digital channels already account for 96% of Eurobank transactions, with 61% completed through the Eurobank Mobile App. Among customers aged 35 and under, digital adoption reaches 94%.

Customers make about 574 million annual logins across e/m-banking and more than 1 million digital transactions each day. During the first half of 2026, one in three banking products was acquired digitally.

AI Moves Into Everyday Banking

Eurobank is expanding the use of AI through tools including EVA, its digital customer assistant, and myEVA, an AI-powered voice assistant for employees. The technology is also being applied to mortgage assessments, customer feedback analysis and contractual documents.

The bank’s technology architecture is built around five areas: digital channels, customer experience orchestration, data and AI, core banking, and infrastructure and cloud. About 50% of its applications and digital channels are already cloud-based.

Investment Extends Beyond Technology

The program is intended to reshape how Eurobank operates, combining automation and AI with employee development and human support. The bank says the approach is designed to improve services while maintaining access to face-to-face banking when customers need it.

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