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Publication of External Statistics data

Thursday, 30 June 2022

 

Data for the first quarter of 2022 (2022 Q1)

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 2022 (2022 Q1).

According to the preliminary balance of payments data for 2022 Q1, the current account balance of Cyprus recorded a deterioration, with the deficit increasing from €865,9 million in 2021 Q1, to €1.061,8 million, in 2022 Q1.

  • The resulting deficit when adjusting the data for the impact of Special Purpose Entities (SPEs), that is, classifying SPEs as non-residents, stood at €1.018,8 million in  2022 Q1, compared with a deficit of €682,7 million in 2021 Q1.

The international investment position (IIP) recorded a small improvement at the end of 2022 Q1, presenting a net liability position of €28.008,9 million, compared with a net liability position of €28.786,8 million in 2021 Q4.

  • With the corresponding data being adjusted for the impact of SPEs, IIP recorded a net liability position of -€8.999,2 million at the end of 2022 Q1, compared with a net liability position of -€10.150,0 million, at the end of the previous quarter.

The gross external debt decreased to €189.246,7 million in 2022 Q1 from €192.714,8 million in 2021 Q4. The external assets in debt instruments decreased to €132.654,5 million, up from €133.889,4 million in 2021 Q4. Consequently, net external debt decreased by €2.233,2 million to €56.592,2  million, over 2022 Q1.

  • Adjusted for the impact of SPEs, gross external debt reached €64.658,8 million at the end of 2022 Q1, compared to €68.271,0 million, at the end of 2021 Q4. The corresponding net external debt indicator decreased to -€5.793,5 million, compared with -€3.730,1 million at the end of the previous quarter.

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