Cyprus current account deficit widens to €1.30 billion in second quarter of 2026
Cyprus recorded its largest current account deficit in five quarters, while the EU’s seasonally adjusted surplus fell to €80.20 billion, according to Eurostat.
Nicosia, Cyprus. Cyprus’ current account deficit widened to €1.30 billion in the second quarter of 2026, according to Eurostat. It was the country’s largest deficit in the five quarters covered by the latest data, contrasting with a substantial surplus across the European Union.
Cyprus deficit persists across five quarters
Cyprus’ current account remained in deficit throughout the five-quarter period. The deficit stood at €0.70 billion in the second quarter of 2025, €0.20 billion in the third quarter and €1.20 billion in the fourth quarter, before reaching €1.10 billion in the first quarter of 2026.
The current account records transactions between an economy and the rest of the world involving goods, services, primary income and secondary income.
EU current account surplus declines
The European Union’s seasonally adjusted current account surplus totalled €80.20 billion in the second quarter of 2026, equivalent to 1.6 per cent of gross domestic product.
That was down from €98.00 billion, or 2.0 per cent of GDP, in the first quarter of 2026. It was also below the €91.70 billion surplus recorded in the second quarter of 2025, which was equivalent to 2.0 per cent of GDP.
Weaker balances across several components
The decline in the EU-wide surplus compared with the first quarter reflected weaker balances across several current account components.
The goods account surplus narrowed slightly to €62.90 billion from €63.60 billion, while the services surplus fell more substantially to €41.70 billion from €48.10 billion.
The primary income surplus dropped to €0.80 billion from €15.70 billion in the first quarter.
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