Balance of payments of the Republic of Lithuania: August 2022
Today, the Bank of Lithuania published the balance of payments for August 2022, which shows that:
the deficit on the current account balance (CAB) amounted to €286.8 million in August, a month-on-month decrease of 21.0%. It was triggered by a decline in the foreign trade deficit (from €596.5 million to €556.7 million) and the increase in the surplus on the balance of services (from €389.1 million to €431.8 million). The foreign trade deficit narrowed by 6.7%, amounting to €556.7 million. The decline was determined by exports of goods which grew faster than imports (by 14.0% and 11.0% respectively). With a rise in exports and imports of services (by 10.7% and 10.6% respectively), the surplus on the balance of services went up by 11.0% and amounted to €431.8 million. The deficit on primary income slightly decreased (by 2.1%) and stood at €182.2 million;
the secondary income balance was in surplus, amounting to €20.4 million. Transfers from European Union (EU) support funds (€32.3 million) declined by 18.0%, whereas Lithuania’s calculated contributions to the EU budget (€43.1 million) went up by 1.0%, compared to July. Personal transfers from abroad amounted to €56.2 million, a month-on-month increase of 0.1%. Personal transfers to abroad amounted to €34.8 million, a month-on-month increase of 7.3%;
the negative net flow of financial account investment (€141.5 million) was mainly determined by the negative net other investment and direct investment flows (see Chart 2).
Chart 1. CAB and its composite flows
Chart 2. Net financial account investment flows
Detailed data for August is available on the Bank of Lithuania website (External statistics).
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