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.

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Cyprus Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-799.50 -720.00 395.30 -1541.40 2001 - 2020 EUR Million Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-06-30 11:30 AM Q1 €-928.1M €-509.9M € -360M
2020-10-05 10:00 AM Q2 €-182M €-710M €-230M
2020-12-31 10:00 AM Q3 €-784.2M €-182M
2021-03-31 10:30 AM Q4 €-799.5M €-720.0M
2021-06-30 11:30 AM Q1
2021-10-05 10:00 AM Q2
2021-12-31 10:00 AM Q3


News Stream
Cyprus Current Account Deficit Widens in Q4
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.
2021-03-31
Cyprus Current Account Gap Narrows in Q2
The current account deficit in Cyprus narrowed to EUR 182 million in the second quarter of 2020 from EUR 307.9 million a year earlier, mainly due to a big fall in the goods deficit (EUR -655.5 million vs EUR -1282.2 million) as the coronavirus restrictions restricted both exports and imports. The services surplus also shrank markedly (EUR 727.5 million vs EUR 1324.6 million), mainly due to travel. Meanwhile, the primary income gap decreased to EUR 145.4 million from EUR -275.9 million while the secondary income shortfall increased to EUR 108.6 million from EUR 74.4 million.
2020-10-05
Cyprus Posts Largest Current Account Gap in Over 11 Years
The current account deficit in Cyprus widened to EUR 928.1 million in the first quarter of 2020 from EUR 639.4 million in the same period of the previous year. It was the largest current account gap since the last quarter of 2008, as the goods shortfall increased to EUR 1201 million from EUR 901.7 million. In addition, the services surplus narrowed to EUR 445.2 million from EUR 507.4 million a year earlier and the secondary income deficit rose to EUR 101.6 million from EUR 50.7 million a year earlier. On the other hand, the primary income shortfall declined to EUR 70.8 million from EUR 194.3 million.
2020-06-30

Cyprus Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).