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 fourth quarter of 2019 (2019Q4), as well as the revised data of the said statistics for the first three quarters of 2019.
The current account of Cyprus deteriorated remarkably in 2019, recording a deficit of €1.473,5 million (6,8% of GDP), compared with a deficit of €931,2 million (4,4% of GDP) in 2018.
The international investment position (IIP) recorded a slight improvement at the end of 2019, presenting a net liability position of €25.459,5 million, compared with a net liability position of €25.631,1 million the previous year.
The gross external debt amounted to €205.302,8 million in December 2019, down from €209.455,2 million a year ago. The same trend was also recorded by external assets in debt instruments which declined to €119.652,5 million, down from €119.740,5 million in 2018. The net external debt in 2019 decreased by €4.064,3 million compared with 2018, thus reaching €85.650,4 million.
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