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 year 2022.

According to the preliminary balance of payments data for 2022, the current account balance of Cyprus recorded a deterioration, with the deficit increasing from €1.638,2 million in 2021, to €2.463,3 million, in 2022.

• The resulting deficit adjusted for the impact of Special Purpose Entities (SPEs), that is, classifying SPEs as non-residents, stood at €2.819,9 million in 2022, compared with a deficit of €1.946,5 million in 2021.

The international investment position (IIP) recorded a small deterioration in 2022, presenting a net liability position of €28.439,5 million, compared with a net liability position of €28.282,4 million in 2021.

• With the corresponding data being adjusted for the impact of SPEs, IIP recorded a net liability position of €11.037,3 million in 2022, compared with a net liability position of €10.759,2 million, in 2021.

The gross external debt decreased to €167.649,7 million in 2022 from €168.002,7 million in 2021. The external assets in debt instruments increased to €152.293,4 million, up from €130.872,1 million in 2021. Consequently, the net external debt decreased by €21.774,3 million to €15.356,3 million, in 2022.

• Adjusted for the impact of SPEs, gross external debt reached €61.856,7 million in 2022, compared to €69.108,3 million, in 2021. The corresponding net external debt indicator decreased further to -€10.311,2 million in 2022, compared with -€3.111,3 million in 2021.

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