2021-09-13
Today, the Bank of Lithuania published the balance of payments for July 2021, which shows that:
the accumulation of the deficit of €81 million in the current account balance (CAB) was determined by a substantial rise in the foreign trade deficit and the increase in the primary income balance, which remained negative, however, these deficit were not offset by the surplus in the balances of services and secondary income (see Chart 1). Foreign trade imports grew by 4.1%, exports declined by 2.5%, whereas the trade balance deficit went up by 75% and amounted to €420.7 million. The deficit in the primary income balance increased by 3.9% and amounted to €136.9 million. The balance of services remained in surplus and stood at €421.6 million;
the secondary income balance remained in surplus as well, amounting to €55.0 million. Transfers from European Union (EU) support funds (€32.9 million) rose by 2.5%, whereas Lithuania’s calculated contributions to the EU budget (€20.5 million) went up by 58.2%, compared to June. Private individual remittances from abroad amounted to €54.6 million, a month-on-month increase of 5.8%. Private individual remittances from Lithuania totalled €18.3 million, declining by 1.6% month on month;
the positive net financial account investment flow (€243 million) was determined by the positive net other investment and direct investment flows (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 for July 2021 is available on the Bank of Lithuania website (External statistics).
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