2020-06-15
Today, the Bank of Lithuania published the balance of payments for April 2020, which shows that:
the surplus on the current account balance (CAB) amounted to €302.1 million, a month-on-month increase of 14.5%. The surplus was a result of the surplus balance of services and still present, albeit decreasing, surplus secondary income balance (see Chart 1). With imports of services declining more rapidly (21.4%) than export (4.2%), the surplus balance of services hiked (20.5%). As import and export of foreign trade decreased considerably (by 24.5% and 24.6% respectively), the foreign trade balance deficit dropped to €23.4 million;
the surplus on the secondary income balance decreased by 32.1% over the month. Transfers from EU support funds (in April – €30.7 million) decreased by 1.8%, while Lithuania’s calculated contributions to the EU budget (in April amounting to €33.7 million), increased month on month by 66.6%. Private individual remittances from abroad amounted to €42.7 million, a month-on-month decrease of 18.1%. Private individual remittances from Lithuania amounted to €14.0 million, decreasing by 25.0%;
the positive net financial account investment flow (€347.5 million) was due to the increased positive portfolio investment and other investment net flows (see Chart 2).
Chart 1. CAB and its composite flows
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Chart 2. Net financial account investment flows
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Comprehensive balance of payments data are also published on the Bank of Lithuania website.
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