Bank of Lithuania
2023-09-13
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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;

Balance of payments of the Republic of Lithuania: July 2023 Balance of payments of the Republic of Lithuania: July 2023 Balance of payments of the Republic of Lithuania: July 2023

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

Balance of payments of the Republic of Lithuania: July 2023

Chart 2. Net financial account investment flows

Balance of payments of the Republic of Lithuania: July 2023

Detailed data for July is available on the Bank of Lithuania website (External statistics). 

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