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 second quarter of 2023 (Q2 2023), as well as the revised data of the said statistics for the years 2021, 2022 and the first quarter of 2023 (2023 Q1).

According to the preliminary balance of payments data for Q2 2023, the current account balance of Cyprus recorded an improvement, with the deficit decreasing from €1.045,7 million in Q2 2022, to €346,1 million, in Q2 2023.

• The resulting deficit adjusted for the impact of Special Purpose Entities (SPEs), that is, classifying SPEs as non-residents, stood at €480,7 million in Q2 2023, compared with a deficit of €727,2 million in Q2 2022.

The international investment position (IIP) recorded a deterioration in Q2 2023, presenting a net liability position of €28.658,3 million, compared with a net liability position of €28.265,1 million in Q1 2023.

• With the corresponding data being adjusted for the impact of SPEs, IIP recorded a net liability position of €10.710,7 million in Q2 2023, compared with a net liability position of €10.217,5 million, in Q1 2023.

The gross external debt decreased marginally to €169.614,3 million in Q2 2023 from €169.618,8 million in Q1 2023. The external assets in debt instruments increased to €146.830,5 million, up from €145.614,5 million in Q1 2023. Consequently, the net external debt decreased by €1.220,5 million to €22.783,81 million in Q2 2023.

• Adjusted for the impact of SPEs, gross external debt reached €58.513,4 million in Q2 2023, compared to €58.159,0 million, in Q1 2023. The corresponding net external debt indicator decreased to -€12.822,1 million in Q2 2023, compared with -€11.569,9 million in Q1 2023.

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