The Statistics Department of the Central Bank of Cyprus (CBC) has today announced the revised statistics of the external sector for the year 2013 and the first half of 2014, which were compiled in accordance with the methodology set out in the Balance of Payments and International Investment Position Manual of the International Monetary Fund, Sixth Edition (BPM6) and the European System of Accounts, 2010 (ESA 2010). The CBC’s Statistics Department has also introduced further changes and benchmark revisions.
The most important changes concern the following:
1. The incorporation of "Special Purpose Entities" (SPEs) registered / incorporated in Cyprus.
2. The adoption of the recommendations of EU special task forces aimed at handling specific methodological issues.
3. Improved data from new statistical data sources.
The revised external statistics data are consistent with the revised national accounts data, which have been recently published by the Statistical Service of Cyprus on the basis of the new methodological standard ESA 2010.