2025-02-13
Today, Lietuvos bankas published the balance of payments for December 2024, which shows that:
the current account balance (CAB) turned from deficit (€5.0 million) to surplus, compared to November, and amounted to €62.8 million. This development was mainly determined by the primary income balance which turned from deficit to surplus and the rise in the surplus on the balance of services (see Chart 1). The formation of the surplus on primary income balance (€52.8 million) was primarily triggered by a larger flow of European Union (EU) subsidies to Lithuania and reduced investment expenditure. With the rise in exports and imports of services (by 10.3% and 4.2% respectively), the surplus on the balance of services went up by 23.5%, amounting to €598.3 million. Exports of goods which fell significantly faster than imports (by 14.8% and 6.0% respectively) significantly pushed up the foreign trade deficit by 63.5% which amounted to €630.5 million;
.png) |
.png) |
.png) |
the surplus secondary income balance totalled €42.2 million. Transfers from EU support funds declined by 5.4% and amounted to €63.3 million, whereas Lithuania’s calculated contributions to the EU budget enhanced by 25.5%, totalling €55.7 million. Personal transfers from abroad went up by 29.1% and amounted to €102.2 million, whereas personal transfers from Lithuania went down by 15.3% and amounted to €56.6 million;
the negative net flow of financial account investment (€423.6 million) was driven by the negative net flow of other investment (€2.1 billion) and direct investment (€260.2 million). The impact of these negative flows was lessened by a significant increase in official reserve assets (€1.5 billion) (see Chart 2).
Chart 1. CAB and its composite flows
.png)
Chart 2. Net financial account investment flows
.png)
Detailed data on the balance of payments for December is available on Lietuvos bankas’ website (External statistics).
Use the My Data Sets tool to create your own data sets, which are saved in your account and automatically updated as soon as they are published.
Download in PDF (81.3 KB download icon)