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 2023 (Q3 2023).

According to the preliminary balance of payments data for Q3 2023, the current account balance of Cyprus recorded a deterioration, with the deficit increasing from €399,0 million in Q3 2022, to €517,0 million, in Q3 2023.

• The resulting deficit adjusted for the impact of Special Purpose Entities (SPEs), that is, classifying SPEs as non-residents, stood at €408,9 million in Q3 2023, compared with a deficit of €548,8 million in Q3 2022.

The international investment position (IIP) recorded an improvement in Q3 2023, presenting a net liability position of €28.267,5 million, compared with a net liability position of €28.658,3 million in Q2 2023.

• With the corresponding data being adjusted for the impact of SPEs, IIP recorded a net liability position of €10.130,7 million in Q3 2023, compared with a net liability position of €10.710,7 million, in Q2 2023.

The gross external debt decreased to €162.317,2 million in Q3 2023 from €169.614,3 million in Q2 2023. The external assets in debt instruments increased to €152.975,5 million, up from €146.830,5 million in Q2 2023. Consequently, the net external debt decreased by €13.441,7 million to €9.342,1 million in Q3 2023.

• Adjusted for the impact of SPEs, gross external debt reached €58.261,2 million in Q3 2023, compared to €58.513,4 million, in Q2 2023. The corresponding net external debt indicator decreased to -€14.534,8 million in Q3 2023, compared with -€12.822,1 million in Q2 2023.

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