Cyprus's current account deficit narrowed to EUR 126.10 million in the fourth quarter of 2021 from EUR 748.2 million a year ago. It was the smallest current account gap since September of 2019. source: Central Bank of Cyprus

Current Account in Cyprus averaged -256.72 EUR Million from 2001 until 2021, 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 June of 2022.

Current Account in Cyprus is expected to be -730.00 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.

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Cyprus Current Account

Calendar GMT Actual Previous Consensus TEForecast
2021-12-31 10:00 AM Q3 €-144.7M €-648.6M
2022-03-31 02:30 PM Q4 €-126.1M €-201M €-690M
2022-06-30 11:30 AM Q1 €-126.1M €-730M

Related Last Previous Unit Reference
Current Account -126.10 -201.00 EUR Million Dec 2021
Capital Flows -536.60 394.80 EUR Million Dec 2021
Remittances 15.70 18.90 EUR Million Dec 2021
External Debt 192714.77 192395.14 EUR Million Dec 2021

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).
Actual Previous Highest Lowest Dates Unit Frequency
-126.10 -201.00 395.30 -1541.40 2001 - 2021 EUR Million Quarterly

News Stream
Cyprus Current Account Gap Narrows in Q3
The current account deficit in Cyprus narrowed to EUR 144.7 million in the third quarter of 2021 from EUR 616.9 million in corresponding period of the previous year. The services surplus widened to EUR 1,392.8 million from EUR 818.4 million a year ago, while the goods account gap narrowed to EUR 1,035.9 million from EUR 1,051.2. Meanwhile, the primary income gap rose to EUR 408.9 million from EUR 323.3 million and the secondary income gap widened to 92.8 million from EUR 60.8 million.
Cyprus Current Account Gap Widens in Q1
The current account deficit in Cyprus rose to EUR 922.0 million in the first quarter of 2021 from EUR 799.5 million in the same period a year earlier. The goods gap widened to EUR 1,254 million from EUR 1,174 million a year ago and the services surplus narrowed to EUR 766.9 million from EUR 482.3 million. Additionally, the primary income balance swang to EUR 338.1 million shortfall to EUR 44.4 million surplus, while the secondary income deficit shortened to EUR 96.2 million from 104.2 million.