Nicosia, Cyprus. Cyprus recorded a wider current account deficit in the first quarter of 2026, even as the European Union posted a stronger external balance, according to figures released by Eurostat on Friday.
Cyprus current account trend
Eurostat said Cyprus registered a current account deficit of €1.3 billion in the first quarter of 2026, compared with a deficit of €0.8 billion in the fourth quarter of 2025 and €1.0 billion in the corresponding quarter of 2025.
The figures also showed that Cyprus’ current account had narrowed to a deficit of €0.1 billion in the third quarter of 2025 after standing at €0.4 billion in the second quarter of the same year, before widening again over the following two quarters.
EU external balance
Across the EU, the seasonally adjusted current account surplus increased to €113.4 billion in the first quarter of 2026, equivalent to 2.4 per cent of gross domestic product, up from a surplus of €99.2 billion, or 2.1 per cent of GDP, in the fourth quarter of 2025.
The EU surplus was also higher than the €104.9 billion, or 2.3 per cent of GDP, recorded in the first quarter of 2025.
Components of the EU surplus
The improvement in the EU’s external position was driven by stronger services and primary income balances, although the surplus on trade in goods declined during the quarter.
The surplus on the goods account fell to €66.7 billion from €89.0 billion in the previous quarter.
By contrast, the services account surplus increased to €52.1 billion from €43.9 billion.
The primary income account shifted from a deficit of €4.3 billion in the fourth quarter of 2025 to a surplus of €25.3 billion in the first quarter of 2026.
At the same time, the secondary income account deficit widened to €30.7 billion from €29.4 billion.