Cyprus recorded a Current Account deficit of 9.50 percent of the country's Gross Domestic Product in 2023. Current Account to GDP in Cyprus averaged -4.92 percent of GDP from 1995 until 2023, reaching an all time high of 3.10 percent of GDP in 1998 and a record low of -14.70 percent of GDP in 2008. source: EUROSTAT
Current Account to GDP in Cyprus is expected to reach -8.30 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations.
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.
|
Actual |
Previous |
Highest |
Lowest |
Dates |
Unit |
Frequency |
|
|
-9.50 |
-5.40 |
3.10 |
-14.70 |
1995 - 2023 |
percent of GDP |
Yearly |
|