2014-06-20
The surplus balances of services and of secondary income outweighed the negative foreign trade and primary income balances, which led to the build-up of a surplus (LTL 17.2 million) in the country's balance of payments current account in Q1 2014, while compared to Q4 2013, the negative change amounted to LTL 714.9 million. The balance of payments financial account in Q1 posted a positive balance (LTL 67.9 million), which was due to growth in the net other investment foreign assets.
At the end of Q1 2014, the international investment position was negative (LTL –56.8 billion) and suggested that Lithuania was a debtor vis-a-vis the rest of the world. The gross debt in this period amounted to LTL 85.7 billion, or 71 per cent of GDP, while the net debt — LTL 34.9 billion, or 28.9 per cent of GDP.
Balance of payments data and international investment position data for Q1 2014, compiled in accordance with the requirements of the new BPM6 of the IMF, were published today. Material changes (307.2 KB download icon) are related to the calculation of foreign trade and services, direct invetment, application of primary and secondary income indicators and a more detailed sector classification and presentation of financial assets and liabilities. Moreover, following the BPM6 requirements, the 2008-2013 quarterly balance of payments data have been recalculated.
The above data was released by the Statistics Department of the Bank of Lithuania.
For more information see the Bank of Lithuania’s Statistical Release (156.8 KB download icon). Comprehensive data is presented on the website of the Bank of Lithuania.