Cyprus’ shipmanagement revenue exceeded €1 billion in the second half of 2025, marking a 2.3% increase compared with the first half of the year, according to figures released on Tuesday by the Central Bank of Cyprus.
Shipmanagement revenue accounted for 5.4% of Cyprus’ half-year GDP in turnover terms, underlining the sector’s weight in the broader economy.
The Central Bank said revenue in the second half of 2025 remained well above the average recorded during the 2019-2021 period, when the sector was affected by pandemic-related disruptions, temporary state support measures and higher crew management costs.
Germany remained Cyprus’ main trading partner in the sector, accounting for 28% of total shipmanagement revenue.
Full management services continued to generate the largest share of income.
Shipmanagement expenditure reached €897 million, up marginally by 0.2% from the first half of 2025.
The Shipmanagement Survey is conducted by the Central Bank’s Statistics Department and focuses primarily on transactions between Cyprus-resident shipmanagement companies and shipowning companies, as well as other non-resident legal entities involved in related shipping activities.