2024-03-15
Today, the Bank of Lithuania published the balance of payments for January 2024, which shows that:
compared to December 2023, the surplus on the current account balance (CAB) decreased from €629.3 million to €305.7 million in January. The contraction was determined by the primary income balance which had turned from surplus to deficit and the decrease in the surplus balance of services (see Chart 1). With the fall in exports (18.4%) and imports (12.4%) of services, the surplus balance of services decreased by 25.5%, amounting to €600.7 million. The decline in the foreign trade deficit (25.8%) was influenced by a rise in exports of goods which was higher than imports (9.5% and 6.0% respectively);
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compared to December, the secondary income balance decreased but remained in surplus at €30.3 million. Transfers from European Union (EU) support funds and Lithuania’s calculated contributions to the EU budget declined, totalling €23.8 million and €29.2 million respectively. Personal transfers from abroad amounted to €63.3 million, while those from Lithuania totalled €28.3 million;
the negative net flow of financial account investment (€305.1 million) was mainly driven by the negative net flow of other investment (€230.6 million) and direct investment (€204.2 million) (see Chart 2).
Chart 1. CAB and its composite flows
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Chart 2. Net financial account investment flows
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Detailed data on the country’s balance of payments for January is available on the Bank of Lithuania website (External statistics).
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