Publication of External Statistics data

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 third quarter of 2022 (2022 Q3).

According to the preliminary balance of payments data for 2022 Q3, the current account balance of Cyprus recorded a deterioration, with the deficit increasing from €132,8 million in 2021 Q3, to €435,7 million, in 2022 Q3.

• The resulting deficit when adjusting the data for the impact of Special Purpose Entities (SPEs), that is, classifying SPEs as non-residents, stood at €583,1 million in 2022 Q3, compared with a deficit of €216,2 million in 2021 Q3.

The international investment position (IIP) recorded a slight deterioration at the end of 2022 Q3, presenting a net liability position of €28.063,5 million, compared with a net liability position of €27.642,0 million in 2022 Q2.

• With the corresponding data being adjusted for the impact of SPEs, IIP recorded a net liability position of €10.164,1 million at the end of 2022 Q3, compared with a net liability position of €9.649,6 million, at the end of the previous quarter.

The gross external debt significantly increased to €181.011,0 million in 2022 Q3 from €162.924,4 million in 2022 Q2. On the other hand, external assets in debt instruments increased to €150.365,3 million, up from €127.207,7 million in 2022 Q2. Consequently, net external debt decreased by €5.071,0 million to €30.645,7 million in 2022 Q3.

• Adjusted for the impact of SPEs, gross external debt reached €62.725,5 million at the end of 2022 Q3, compared to €62.653,1 million, at the end of 2022 Q2. The corresponding net external debt indicator increased to -€9.392,1 million, compared with -€8.526,1 million at the end of the previous quarter.

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