FX.co ★ Cyprus Current Account Deficit Widens in Q1

In the first quarter of 2025, Cyprus saw its current account deficit increase to €1,207.8 million, up from €947 million in the same period the previous year. The deficit in the goods account grew to €1,651.2 million, compared to €1,348.6 million a year earlier. Additionally, the primary income deficit expanded to €1,081.1 million from €765.3 million. Meanwhile, the services account surplus improved, rising to €1,595.4 million from last year's €1,249.9 million. The secondary income deficit, however, saw a reduction, narrowing to €70.9 million from €83.1 million.