The Cypriot economy displayed strong upward momentum across its primary sectors in the first six months of 2025, fueled by significant gains in exports, tourism, and construction. The data, released by the Cyprus Statistical Service (CyStat) in its “Monthly Economic Developments” bulletin, paints a picture of a resilient economy, with only a few specific areas showing a downturn.
The report, which compiles data available up to August 12, 2025, highlights a major boost from external trade. Total exports of goods surged by an impressive 31.4% to reach €2.62 billion between January and June 2025. While imports also grew by 15.0% to €6.5 billion, the exceptional export performance signals strong international demand for Cypriot products.
Tourism, a cornerstone of the island’s economy, also flourished. The country welcomed 1,843,013 visitors in the first half of the year, an 11.5% increase from the 1,652,475 arrivals recorded in the same period in 2024.
Domestic activity showed healthy expansion as well. The manufacturing production index rose by 2.9% from January to May 2025 compared to the previous year. The construction sector appeared even more robust, with the total area of authorized building permits expanding by 13.3% in the first four months of the year.
In contrast to the widespread growth, total motor vehicle registrations experienced a slight decline of 1.1% for the six-month period. This was driven primarily by a 6.3% drop in the registration of private saloon cars, although this was partially offset by a 4.5% rise in light goods vehicles.
Meanwhile, inflation remained modest. The Consumer Price Index recorded a mild 0.9% increase over the first half of the year, suggesting that the economic expansion has not translated into significant price pressure for consumers.
Source: stockwatch.com.cy