Balance of payments of the Republic of Lithuania: January 2022
Today, the Bank of Lithuania published the balance of payments for January 2022, which shows that:
the surplus on the current account balance (CAB) increased slightly by 2.2% compared to December 2021, up to €68.0 million. This was due to a reduction in the foreign trade deficit (from €345.1 million to €216.3 million) and the secondary income balance, which turned from a deficit of €55.6 million to a surplus of €11.1 million (see Chart 1). Imports of goods, which fell faster than exports (by 6.8% and 3.3% respectively), reduced the foreign trade deficit, which amounted to €216.3 million. The surplus on the balance of services narrowed slightly by 0.9% and amounted to €393.6 million, following a decline in exports and imports of services (by 5.5% and 8.2% respectively). The deficit on primary income of €120.5 million was mainly due to smaller European Union (EU) subsidies for agriculture;
the secondary income balance turned from a deficit to a surplus of €11.1 million. Transfers from EU support funds amounted to €17 million, representing a decrease of 3.1 times compared to December 2021, while Lithuania’s estimated contributions to the EU budget amounted to €42.6 million, representing a decrease of 32.7%. Personal transfers from abroad amounted to €52.7 million, with a decrease of 10.1% compared to December 2021. Personal transfers from Lithuania amounted to €20.1 million, with an increase of 1.7%;
the positive net flow of financial account investment (€375.4 million) was mainly due to an increase in official reserve assets (see Chart 2).
Chart 1. CAB and its composite flows
Chart 2. Net financial account investment flows
Detailed data for January is available on the Bank of Lithuania website (External statistics).
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