Balance of payments of the Republic of Lithuania: December 2022
Today, the Bank of Lithuania published the balance of payments for December 2022, which shows that:
the current account balance (CAB) turned from surplus to deficit, compared to November, and amounted to €70.2 million. This was mainly driven by a significant increase in foreign trade deficit (from €395.7 million to €848.3 million) (see Chart 1). A substantial decrease in foreign trade exports (9.9%) and a rise in imports (2.4%) led to a substantial increase in the foreign trade balance deficit, which stood at €848.3 million. With the rise in exports of services (7.7%) and the decline in imports of services (2.9%), the surplus balance of services grew by 26.5%, amounting to €689.0 million. The surplus on the primary income balance (€93.8 million) was led by EU subsidies for agriculture;
the secondary income balance was in deficit, amounting to €4.6 million. Transfers from EU support funds (€103.3 million) went up by 4.9 times, and Lithuania’s calculated contributions to the EU budget (€58.7 million) by 40.6% compared to November. Personal transfers from abroad amounted to €65.1 million, increasing by 9.2% month on month. Personal transfers from Lithuania amounted to €34.2 million, a month-on-month increase of 3.7%;
the negative net flow of financial account investment (€9.8 million) was mainly driven by the negative net flow of portfolio investment and a decrease in official reserve assets (see Chart 2).
Chart 1. CAB and its composite flows
Chart 2. Net financial account investment flows
Detailed data for December is available on the Bank of Lithuania website (External statistics).
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