Trade And Technology Propel Cyprus Business Growth

by THEFUTURE.TEAM

September 11, 2025

Cyprus has emerged as a dynamic hub of business activity in 2023, underscored by steady entrepreneurial expansion and the influential roles of trade and technology. Recent data from the Statistical Service (Cystat) reveals impressive growth figures that highlight a resilient and steadily evolving market environment.

Steady Enterprise Expansion

The number of registered enterprises surged by 4.5% in 2023, reaching 125,152 from 119,816 in 2022. This marks the fifth straight year of growth, following expansions of 5.7% in 2019, 1.3% in 2020, 3.8% in 2021, and 6.5% in 2022. Notably, the business register has grown from 101,323 enterprises in 2018, reflecting a robust upward trend in commercial activity.

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Dominance Of Micro-Enterprises

Despite the significant expansion in overall business numbers, the structural composition of the Cypriot business landscape remains largely unchanged. Micro-enterprises, defined as firms with fewer than 10 employees, continue to dominate by accounting for 94.8% of all businesses, or 118,697 establishments. In contrast, large companies employing over 250 people are exceedingly rare, representing just 0.1% of the total.

Rising Employment Trends

Employment figures have mirrored enterprise growth, with total jobs increasing by 5.5% in 2023 to nearly 500,000 positions. From the downturn in 2020 due to the pandemic, employment rebounded with a 3.9% rise in 2021, followed by 6.4% in 2022. A detailed breakdown shows that micro-enterprises provide 38.1% of all jobs, while small, medium, and large enterprises contribute 20.1%, 16.5%, and 25.3% respectively.

Sector Performance Overview

The retail and wholesale trade sector continues to lead in business numbers, comprising 16,672 enterprises. This is followed by professional, scientific, and technical activities with 13,235 firms, and construction with 10,311. Employment figures also favor the trade sector, which accounted for 77,046 jobs, while accommodation and food services, alongside public administration, also contributed significantly. In contrast, sectors such as mining and quarrying remain minimal, underscoring the varied industrial landscape within Cyprus.

Regulatory Framework And Definitions

The methodology behind these statistics adheres to strict EU regulatory standards, with annual updates derived from social insurance, tax, and company registers. For clarity, an “enterprise” refers to the smallest autonomous legal unit producing goods or services, whereas an “establishment” is the specific location where business activity occurs.

By consistently attracting growth in both enterprise numbers and employment, Cyprus is positioning itself as a resilient and forward-looking business ecosystem—one where traditional sectors harmonize with innovative technology-driven industries.

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Central Bank Of Cyprus Balance Sheet Reflects Strong Eurosystem Position

by THEFUTURE.TEAM

February 17, 2026

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.

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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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