Bank of Lithuania
2022-02-14
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Today, the Bank of Lithuania published the balance of payments for December 2021, which shows that:

the surplus on the current account balance (CAB) contracted rapidly (37.2 %), as in November, and amounted to €66.5 million. This was due to a significant widening of the foreign trade deficit and the secondary income balance which turned into a deficit (see Chart 1). The increase in the foreign trade deficit of €345.1 million formed due to the decrease in exports of goods (3.1 %) and a slight increase in imports (0.2 %). With the rise in exports and imports of services (by 7.7 % and 9.3% respectively), the surplus balance of services increased by 4.9% and amounted to €397.3 million. The surplus in primary income (€70.0 million) formed due to subsidies for agriculture received from the European Union (EU);

the secondary income balance turned into a deficit and amounted to €55.6 million. Transfers from EU support funds (€53.0 million) went up by 13.2 %, whereas Lithuania's calculated contributions to the EU budget (€63.3 million) rose by 58.0% compared to November. Personal transfers from abroad amounted to €58.6 million, with an increase of 6.2% compared to November. Personal transfers from Lithuania totalled EUR 19.8 million, rising 0.7% month on month;

the negative net flow of financial account investment (€110.6 million) resulted from a fall in official reserve assets (see Chart 2).

Chart 1. CAB and its composite flows

Balance of payments of the Republic of Lithuania: December 2021

Chart 2. Net financial account investment flows

Balance of payments of the Republic of Lithuania: December 2021

Detailed data for December is available on the Bank of Lithuania website (External statistics). 

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