FX.co ★ Cyprus Current Account Surplus Narrows in Q2

In the second quarter of 2025, Cyprus observed a narrowing of its current account deficit, which decreased to EUR 257.3 million from a revised figure of EUR 341.7 million in the same period the previous year. This improvement was largely attributed to a reduction in the primary income gap, which decreased to EUR 719.7 million from EUR 819.8 million, and a contraction in the secondary income deficit to EUR 40.7 million from EUR 47.5 million. Additionally, the services surplus showed an increase, climbing to EUR 2,318.9 million from EUR 2,101.4 million. However, these positive trends were partially counteracted by an expansion in the goods deficit, which rose to EUR 1,815.9 million from EUR 1,575.7 million. For the first half of 2025, the overall current account deficit remained relatively stable at EUR 1.35 billion, in comparison to EUR 1.32 billion recorded during the same period in 2024.