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Maritime Transport Drives EU International Trade in 2024

Overview

In 2024, the European Union’s international trade landscape was significantly shaped by the dominance of maritime transport. Eurostat data reveals that the sector played a pivotal role, handling the bulk of the physical trade volume while other modes of transport maintained a secondary, albeit economically significant, position.

Trade Volume Versus Value

According to the findings, seaborne imports reached 1.1 billion tonnes valued at €1.25 trillion, while exports amounted to 0.5 billion tonnes, worth €1.13 trillion. Maritime operations accounted for an overwhelming 75.6% of imports and 73.7% of exports by weight. However, when evaluated in monetary terms, the share was notably lower at 51.3% for imports and 43.6% for exports. This contrast underscores the divergence between the physical volume of goods moved and their corresponding economic value.

Other Modes of Transport

Other transport modes played complementary roles in the overall trade ecosystem. Rail transport contributed modestly, accounting for 3.1% of import volume and 2.9% of exports by volume—a mere 1.5% and 1.3% of trade value, respectively. Air transport, though responsible for only 0.2% of imports and 2.8% of exports by weight, represented a disproportionately high value share at 18.3% and 27.1%. Road transport also demonstrated similar dynamics with 20.4% of import value and 24% of export value, despite handling 5.8% and 16.5% of the physical volumes, respectively.

Member-State Focus

Among EU member states, Cyprus and Malta emerged as the most reliant on maritime trade. For instance, Cyprus moved 98.6% of its imports and 97.2% of its exports by sea in 2024, with minimal reliance on alternative modes. Malta exhibited a similar pattern, with 99.1% of its imports and 98.5% of its exports transported by sea.

Other nations displayed a more diversified transportation matrix. Greece, a renowned shipping hub, moved 92.4% of its imports and 87.9% of its exports by sea. In contrast, the Netherlands, the continent’s largest port economy, recorded lower shares of 77.6% for imports and 66.8% for exports by sea. Germany and Poland further illustrate this diversification; Germany relied more heavily on road, rail, and pipelines with maritime shares of 59.7% for imports and 49.2% for exports, while Poland accounted for merely 45.8% of imports and 31.4% of exports via sea.

Conclusion

The data from 2024 underscores the strategic significance of maritime transport within the EU’s trade framework. As global trade dynamics evolve and the demand for efficiency grows, the EU’s maritime infrastructure appears poised to maintain its critical role, even as complementary transport modes continue to enhance value delivery across the bloc.

Central Bank Of Cyprus Balance Sheet Reflects Strong Eurosystem Position

Overview Of Financial Stability

The Central Bank of Cyprus (CBC) has released its latest balance sheet, reaffirming its steadfast role within the Eurosystem. The balance sheet, featuring total assets and liabilities of €29.545 billion, underscores the institution’s stable financial posture at the close of January 2026.

Asset Allocation And Strategic Holdings

Governor Christodoulos Patsalides issued the balance sheet, which details the CBC’s asset composition under the Eurosystem framework. Notably, the bank’s gold and gold receivables amounted to €1.635 billion, providing a significant hedge and stability to its balance sheet. Additional asset categories include claims on non-euro area residents denominated in foreign currency at €1.099 billion, while claims on euro area residents in both foreign and domestic currency add further depth to its portfolio.

The most substantial asset category, intra-Eurosystem claims, reached €19.438 billion, an indication of the CBC’s deep integration with its European counterparts. Furthermore, euro-denominated securities held by euro area residents contributed €6.587 billion. Despite a marked emphasis on these areas, lending to euro area credit institutions in monetary policy operations recorded no activity during the period.

Liability Structure And Monetary Policy Implications

On the liabilities side, banknotes in circulation contributed €3.218 billion. Liabilities to euro area credit institutions associated with monetary policy operations were notably the largest single category, totaling €17.636 billion. Supplementary liabilities included those to other euro area residents, which aggregated to €4.989 billion, with government liabilities playing a predominant role at €4.754 billion.

Other liability items, such as claims related to special drawing rights allocated by the International Monetary Fund at €494.193 million, and provisions of €596.571 million, further articulate the CBC’s exposure. Revaluation accounts stood at €1.643 billion, and overall capital and reserves were confirmed at €333.822 million, completing the picture of a well-capitalized institution.

Conclusive Insights And Strategic Alignment

The detailed breakdown illustrates the CBC’s sizeable intra-Eurosystem exposures, reinforcing its central role within Europe’s monetary landscape. With an asset-liability balance maintained at €29.545 billion, the CBC’s financial position remains robust, indicating a commitment to structural stability and strategic risk management.

This fiscal disclosure not only provides transparency into the CBC’s operations but also serves as a benchmark for comparative analysis among other central banks within the Eurosystem, highlighting the intricate balance between asset liquidity, regulatory oversight, and monetary policy imperatives.

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