Cyprus recorded a totally balanced current accounts (0.0) in Q3 2019 and a 1.6 billion surplus in the trade in services balance for the same quarter.

In the third quarter of 2019. based on non-seasonally adjusted data, the EU28 recorded external current account surpluses with the USA (+€71.2 billion), Switzerland (+€13.4 billion), offshore financial centres (+€10.0 billion), Canada (+€10.4 billion), Hong Kong (+€6.9 billion), Brazil (+€6.8 billion) and Japan (+€1.3 billion). Deficits were registered with China (-€31.8 billion), Russia (-€2.7 billion) and India (-€1.6 billion).

Based on non-seasonally adjusted data, direct investment assets of the EU28 increased in the third quarter of 2019 by €139.4 billion, while direct investment liabilities grew by €127.8 billion. As a result, the EU28 was a net direct investor to rest of the world in the third quarter of 2019 by €11.6 billion. Portfolio investment recorded a net inflow of €126.1 billion, while for other investment there was a net outflow of €73.9 billion.

As concerns the total current account balances of the EU28 Member States, based on available non-seasonally adjusted data, seventeen recorded surpluses, ten deficits and one was in balance in the third quarter of 2019. The highest surpluses were observed in Germany (+€63.2 billion), the Netherlands (+€19.3 billion), Italy (+€17.3 billion), Ireland (+€11.2 billion) and Denmark (+€8.3 billion), and the largest deficits in the United Kingdom (-€23.9 billion), France (-€4.1 billion) and Romania (-€3.6 billion).

Source: In-Cyprus