Balance of payments of the Republic of Lithuania: July 2023
Today, the Bank of Lithuania published the balance of payments for July 2023, which shows that:
the current account balance (CAB) turned from surplus to deficit, compared to June, and amounted to €5.9 million. This was mainly driven by a significant increase in foreign trade deficit (from €411.6 million to €633.1 million) (see Chart 1). A substantial drop in foreign trade exports (12.6%) and imports (4.6%) led to a strong rise (53.8%) in foreign trade deficit, which equalled €633.1 million. With a slight increase in exports and imports of services (by 1.6% and 0.7% respectively), the surplus on the balance of services went up by 2.8% and amounted to €735.4 million. The primary income deficit stood at €157.9 million;
the surplus on the secondary income balance amounted to €49.8 million. Transfers from European Union (EU) support funds rose by a factor of 2.2 month on month and amounted to €29.7 million, whereas Lithuania’s calculated contributions remained unchanged, amounting to €43.8 million. Personal transfers from abroad amounted to €67.6 million, narrowing by 5.3% compared to June, while personal transfers from Lithuania went up by 5.6% and amounted to €27.1 million;
the positive net flow of financial account investment (€680.2 million) was mainly driven by the positive net flow of other investment (€851.5 million) (see Chart 2).
Chart 1. CAB and its composite flows
Chart 2. Net financial account investment flows
Detailed data for July is available on the Bank of Lithuania website (External statistics).
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