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 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.

Adjusting the data for the impact of Special Purpose Entities (SPEs), that is, classifying SPEs as non-residents, the specific deficit stands at €1,438.2 million in 2019, compared with a deficit of €715.9 million 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.

By adjusting the data for the impact of SPEs, IIP recorded a net liability position of €8.000,5 million at the end of 2019, compared with  a net liability position of €8.350,1 million in 2018.

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.

Adjusted for the impact of SPEs, gross external debt reached €57.759,7 million at the end of 2019, compared with €54.809,5 million in December 2018, while the corresponding net external debt indicator increased from – €1.460,4 million in 2018, to €282,0 million in 2019.

Source: Central bank of Cyprus

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