2022-09-13
Today, the Bank of Lithuania published the balance of payments for July 2022, which shows that:
the deficit on the current account balance (CAB) amounted to €363.2 million in July. The overall decrease in the deficit on the CAB in July was triggered by a decline in the deficit on primary income (from €1,697.6 million to €186.2 million) and in the foreign trade deficit (from €707.7 million to €596.5 million). As exports of goods grew more than imports (by 14.2% and 8.6%, respectively), the foreign trade deficit contracted by 15.7% and amounted to €596.5 million. With a decline in exports and imports of services (by 5.4% and 2.1%, respectively), the surplus of the balance of services went down by 11.7% and amounted to €389.1 million. The deficit on primary income stood at €186.2 million;
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the secondary income balance was in surplus, amounting to €30.3 million. Transfers from European Union (EU) support funds (€39.4 million) rose by 18.0%, whereas Lithuania’s calculated contributions to the EU budget remained unchanged and amounted to €42.7 million. Personal transfers from abroad amounted to €56.2 million, a month-on-month increase of 7.1%. Personal transfers from Lithuania amounted to €32.4 million, a month-on-month increase of 7.2%;
the positive net flow of financial account investment (€440.4 million) was mostly due to the positive net flow of other investment as well as the increase in official reserve assets (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 is available on the Bank of Lithuania website (External statistics).
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