The external statistics data published by the Central Bank of Cyprus (CBC) are compiled in accordance with the new international methodological standards (ESA 2010, BPM6). The main presentational and methodological changes, vis-a-vis the previous manual BPM5, can be found here.
Data for 2018Q3
Cyprus’ current account balance deteriorated in 2018Q3, recording a surplus of €52,0 million, compared with a surplus of €261,5 million in 2017Q3. This development was mainly attributed to the trade balance of goods, with exports of goods, mostly ships, recording a decrease compared with 2017Q3 while imports of goods increased. Services also decreased, albeit to a lesser extent, while primary and secondary income recorded small increases.
The international investment position improved in 2018Q3, showing a net liability position at €21.533,2 million, compared with €22.582,7 million the previous quarter. The decrease in Cyprus’ net liabilities was due to the improvement in direct investment and other investment. This was mitigated by the worsening recorded in portfolio investment and derivatives.
Gross external debt reached €102.438,6 million in 2018Q3, compared with €101.246,8 million in 2018Q2. This development was mainly due to the debt increase of the general government and other sectors. The debt of the monetary financial institutions (excluding the CBC), on the other hand, recorded a decrease.