Balance of payments of the Republic of Lithuania: January 2023
Today, the Bank of Lithuania published the balance of payments for January 2023, which shows that:
the current account balance (CAB) turned from deficit to surplus, compared to December 2022, and amounted to €79.9 million. This was driven by the fact that foreign trade deficit decreased by more than half as well as a decline in the balance of services which nonetheless remained in surplus (see Chart 1). A marked fall in foreign trade imports and exports (16.4% and 7.4% respectively) led to a significant decrease in foreign trade deficit which amounted to €414.4 million. With a decline in exports and imports of services (by 8.1% and 6.3% respectively), the surplus on the balance of services went down (by 10.6%) and amounted to €616.1 million;
the secondary income balance was in surplus, amounting to €12.0 million. Transfers from European Union (EU) support funds (€22.6 million) contracted by 4.6 times, whereas Lithuania’s calculated contributions to the EU budget (€29.6 million) went down by 49.5%, compared to December 2022. Personal transfers from abroad amounted to €61.0 million, a month-on-month decrease of 6.3%. Personal transfers from Lithuania amounted to €32.4 million, representing a month-on-month decrease of 5.4%;
the positive net flow of financial account investment (€263.3 million) was driven by the positive net flows of portfolio investment and other investment (see Chart 2).
Chart 1. CAB and its composite flows
Chart 2. Net financial account investment flows
Detailed data for January 2023 is available on the Bank of Lithuania website (External statistics).
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