The Statistics Department of the Central Bank of Cyprus has today released the provisional data for external statistics (balance of payments, international investment position and external debt) for the first quarter of 2020 (2020Q1).
The current account of Cyprus deteriorated significantly in the first quarter (Q1) of 2020, recording a deficit of €928,1 million, compared with a deficit of €639,4 million in the corresponding quarter of 2019.
The international investment position (IIP) recorded a slight improvement at the end of Q1 2020, presenting a net liability position of €25.342,1 million, compared with a net liability position of €25.459,5 million in the last quarter (Q4) of 2019.
The gross external debt amounted to €205.690,5 million in Q1 2020, compared with €205.302,8 million in Q4 2019. The same trend was also recorded by external assets in debt instruments which increased to €121.401,1 million, up from €119.652,5 million in Q4 2019. The net external debt decreased by €1.360,9 million to €84.289,5 million, over Q1 2020.
For more analysis and information, please press here.