Balance of payments of the Republic of Lithuania: August 2023

the current account balance (CAB) turned from deficit (€5.9 million) to surplus, compared to July, and amounted to €566.2 million. This significant development was mainly driven by a decrease in foreign trade deficit (from €633.1 million to €228.2 million) and primary income deficit (from €157.9 million to €27.1 million) (see Chart 1). A substantial rise in foreign trade exports (16.5%) and a slight increase in imports (0.9%) led to a decrease (64.0%) in foreign trade deficit to €228.2 million. With the rise in exports and imports of services (by 6.7% and 8.5% respectively), the surplus on the balance of services expanded (by 4.8%) and amounted to €770.7 million. The primary income deficit stood at €27.1 million;

the surplus on the secondary income balance amounted to €50.7 million. Transfers from European Union (EU) support funds rose by a factor of 1.8 month on month and amounted to €53.7 million, whereas Lithuania’s calculated contributions to the EU budget went down by €6.3 million, amounting to €37.5 million. Personal transfers from abroad and from Lithuania rose by 0.6% and 1.3% respectively, to stand at €68.0 million and €27.5 million respectively;

the positive net flow of financial account investment (€947.4 million) was mainly driven by the positive net flows of other investment (€499.9 million) and portfolio investment (€331.2 million) (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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Statistics, External statistics