Bank of Lithuania
2021-03-16
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Today, the Bank of Lithuania published the balance of payments for January 2021, which shows that:

the current account balance (CAB) had a surplus of €293.5 million, which was determined by the the balance of services and foreign trade balance, which, although declining, were still in surplus (see Chart 1). The exports of goods declined faster than their imports (by 12.5% and 10.3%, respectively), thus reducing the foreign trade balance surplus, which amounted to €104.5 million. With the decline in exports and imports of services (by 6.5% and 10.2% respectively), the surplus of the balance of services went down (by 1.2 %) and amounted to €317.4 million. The deficit of the primary income balance was driven by the smaller European Union (EU) subsidies for agriculture;

the deficit of the secondary income balance narrowed by 34.5%, to €7.8 million. Transfers from EU support funds decreased 3.5 times and amounted to €13.0 million, while Lithuania’s calculated contributions to the EU budget went up by 65.1% month on month and amounted to €60.2 million. Personal transfers from abroad amounted to €52.3 million, a month-on-month increase of 0.3%. Personal transfers from Lithuania amounted to €19.2 million, a month-on-month increase of 3.3%;

the positive net flow of financial account investment (€57.1 million) resulted from the increase in official reserve assets, which offset the negative net flows of other investment, portfolio investment and direct investment (see Chart 2).

Chart 1. CAB and its composite flows

Chart 2. Net financial account investment flows

Detailed data for Janury 2021 is available on the Bank of Lithuania website (External statistics).

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