Cyprus’ seasonally adjusted current account balance of payments records a deficit in Q1 2018

Cyprus’ seasonally adjusted current account balance of payments recorded a deficit of -0.1 billion euro, in the first quarter of 2018, according to estimates released by Eurostat, the statistical office of the European Union.

This deficit is reduced from -1.1 billion in the last quarter of 2017 and -0.7 billion a year ago.

The EU28 seasonally adjusted current account of the balance of payments recorded a surplus of Euros 63.9 billion (1.6% of GDP) in the first quarter of 2018, down from a surplus of Euros 68.0 billion (1.8% of GDP) in the fourth quarter of 2017 and up from a surplus of Euros 43.9 billion (1.2% of GDP) in the first quarter of 2017.

In the first quarter of 2018 compared with the fourth quarter of 2017, based on seasonally adjusted data, the surplus of the goods account decreased (+Euros 34.7 bn compared to +Euros 41.1 bn), as did the surplus of the services account (+Euros 47.5 bn compared to +Euros 49.9 bn).

Source: Cyprus News Agency