Current Account in Cyprus

Cyprus Current Account | Economic News & Forecasts

Cyprus - Current Account

Third-quarter growth was revised up to 3.7% year-on year, a notch above the preliminary estimate, fueled by buoyant household spending and upbeat construction-side fixed investment. Private consumption expanded in line with the previous quarter, underpinned by continued job creation and a roughly stable unemployment rate—and despite the midyear deterioration in consumer sentiment. Meanwhile, the external sector subtracted from the headline reading amid a sharp contraction of exports likely held back by slowing inbound tourism. Available fourth-quarter data has been downbeat; an uptick in joblessness and deteriorating economic sentiment are likely to drag on year-end gains.

Cyprus - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-4.9  -4.3  -1.5  -4.9  -6.7  

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Cyprus Current Account Chart

Cyprus Current Account
Note: Current account balance as % of GDP.
Source: Cyprus Central Bank and FocusEconomics calculations.

Cyprus Facts

Exchange Rate1.140.65 %Jan 16
Stock Market64.6-0.44 %Jan 16

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