Cyprus recorded a Current Account deficit of 6.70 percent of the country's Gross Domestic Product in 2019. source: EUROSTAT

Current Account to GDP in Cyprus averaged -4.85 percent from 1995 until 2019, reaching an all time high of 3.10 percent in 1998 and a record low of -14.70 percent in 2008. This page provides - Cyprus Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus Current Account to GDP - values, historical data and charts - was last updated on May of 2021.

Current Account to GDP in Cyprus is expected to reach -8.60 percent by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cyprus Current Account to GDP is projected to trend around -6.50 percent in 2022 and -5.50 percent in 2023, according to our econometric models.

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Cyprus Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
-6.70 -4.40 3.10 -14.70 1995 - 2019 percent Yearly

Cyprus Trade Last Previous Highest Lowest Unit
Balance of Trade -366685.00 -560756.00 158661.00 -925949.00 EUR Thousand [+]
Current Account -799.50 -720.00 395.30 -1541.40 EUR Million [+]
Current Account to GDP -6.70 -4.40 3.10 -14.70 percent [+]
Imports 584408.00 738384.00 1082134.00 13481.00 EUR Thousand [+]
Exports 217723.00 177628.00 888660.00 5946.00 EUR Thousand [+]
Capital Flows -1259.40 -389.20 1701.50 -1362.60 EUR Million [+]
Remittances 18.70 16.80 34.00 1.00 EUR Million [+]
Tourism Revenues 3800.00 2800.00 431600.00 2800.00 EUR Thousand [+]
Tourist Arrivals 8811.00 5047.00 553845.00 0.00 Persons [+]
Gold Reserves 13.90 13.90 14.48 13.87 Tonnes [+]
Terrorism Index 0.12 0.42 3.19 0.05 [+]
External Debt 189307.26 188588.76 208114.48 90778.90 EUR Million [+]


Cyprus Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.