Current Account in Cyprus
Cyprus - Current Account
The economy shifted into a higher gear in the fourth quarter of 2018. Annual GDP growth accelerated from 3.7% in Q3 to 4.0% in Q4, with the expansion underpinned by the hotels and restaurants, retail and wholesale, and construction sectors. While a breakdown by components is outstanding, robust tourist arrivals and upbeat business confidence throughout the quarter suggest consumer spending and investment activity led the expansion. On the political front, the government tightened rules for granting citizenship in mid-February. Although the program generated substantial revenues in the last few years, the government did so under considerable pressure from the European Commission.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 | 1.12 | 0.65 % | Mar 11 |
| Stock Market | 62.6 | -0.44 % | Mar 08 |
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