The current account deficit in Cyprus rose to EUR 1,037.50 million in the second quarter of 2022 from a revised EUR 445.25 million in the same period a year earlier. It was the largest current account deficit since the last quarter of 2008, as the goods gap widened to EUR 1,922.60 million from EUR 1,098.40 million the year before and the primary income gap increased to EUR 448.30 million from EUR 346.90 million. Meanwhile, the services surplus was up to EUR 1377.10 million from 1103.70 million a year ago, while the secondary income deficit shortened to EUR 43.70 million from EUR 103.60 million. source: Central Bank of Cyprus
Current Account in Cyprus averaged -266.19 EUR Million from 2001 until 2022, reaching an all time high of 395.30 EUR Million in the third quarter of 2006 and a record low of -1541.40 EUR Million in the fourth quarter of 2007. This page provides - Cyprus Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus Current Account - data, historical chart, forecasts and calendar of releases - was last updated on October of 2022.
Current Account in Cyprus is expected to be -400.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cyprus Current Account is projected to trend around -650.00 EUR Million in 2023 and -470.00 EUR Million in 2024, according to our econometric models.