The current account deficit in Cyprus rose to EUR 779.5 million in the fourth quarter of 2020 from EUR 461.2 million in the same period a year earlier. The goods gap widened to EUR 1,345 million from EUR 1,201 million a year ago and the services surplus narrowed to EUR 1,013 million from EUR 1,184 million. In addition, the primary income shortfall rose to EUR 412 million from EUR 376 million, while the secondary income deficit expanded to EUR 73 million from EUR 68 million. Considering full 2020, Cyprus current account deficit jumped to EUR 2476 million compared to EUR 1406 million in 2019. source: Central Bank of Cyprus
Current Account in Cyprus averaged -246.77 EUR Million from 2001 until 2020, 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 May of 2021.
Current Account in Cyprus is expected to be -920.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Cyprus to stand at -920.00 in 12 months time. In the long-term, the Cyprus Current Account is projected to trend around -870.00 EUR Million in 2021, according to our econometric models.