Current Account in Cyprus
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 |
Cyprus Current Account Chart
Source: Cyprus Central Bank and FocusEconomics calculations.
Cyprus Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 1.14 | 0.65 % | Jan 16 |
| Stock Market | 64.6 | -0.44 % | Jan 16 |
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