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 2023 (Q1 2023).
According to the preliminary balance of payments data for Q1 2023, the current account balance of Cyprus recorded a deterioration, with the deficit increasing from €699,6 million in Q1 2022, to €1.876,1 million, in Q1 2023.
The international investment position (IIP) recorded a deterioration in Q1 2023, presenting a net liability position of €29.019,6 million, compared with a net liability position of €28.439,5 million in Q4 2022.
The gross external debt increased marginally to €167.702,7 million in Q1 2023 from €167.649,7 million in Q4 2022. The external assets in debt instruments decreased to €150.312,6 million, down from €152.293,4 million in Q4 2022. Consequently, the net external debt increased by €2.033,7 million to €17.390,0 million in Q1 2023.
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