The European Union’s broader external economy strengthened in the opening months of the year, even as localized trade dynamics showed a mix of sharp surpluses and widening deficits.
According to data originally reported by Stockwatch.com.cy, the seasonally adjusted current account surplus for the entire EU climbed to €113.4 billion during the first quarter of 2026. That performance brings the bloc’s overall surplus to 2.4% of its Gross Domestic Product (GDP).
The early 2026 data reflects a steady upward trajectory when compared against previous periods:
-
Q4 2025: The EU recorded a surplus of €99.2 billion (2.1% of GDP).
-
Q1 2025: The EU recorded a surplus of €104.9 billion (2.3% of GDP).
The Picture in Cyprus
Within this continental framework, Cyprus carved out a massive €1.2 billion surplus specifically within its services sector during Q1 2026.
However, because the current account factors in all net trade—including goods, where imports often outpace exports—the island nation’s overall current account actually closed the first quarter with a €1.3 billion deficit. This represents a widening gap from the €0.8 billion deficit observed at the end of last year and the €1.0 billion deficit from the same period in 2025.
Source: Stockwatch.com.cy