Balance of payments of the Republic of Lithuania: July 2024

the current account balance (CAB) turned from surplus to deficit, compared to June, and amounted to €30.7 million. The deficit on the CAB was mainly underpinned by a major increase in the foreign trade deficit and primary income deficit (see Chart 1). As imports of goods grew significantly faster than exports (by 11.8% and 5.7% respectively), the foreign trade deficit rose by 57.0% and amounted to €597.5 million. The deficit on primary income increased by a factor of 3.8 and stood at €227.2 million. With the fall in exports and imports of services (by 10.1% and 9.6% respectively), the surplus on the balance of services went down by 10.8%, amounting to €752.8 million;

the surplus on the secondary income balance totalled €41.2 million. Transfers from European Union (EU) support funds rose by 12.7%, while Lithuania’s calculated contributions to the EU budget were down by 39%. Personal transfers from abroad went up by 1.3%, whereas those from Lithuania shrank by 12.1%;

the negative net flow of financial account investment (€937.1 million) was influenced by the negative net flow of portfolio investment (€992.3 million), resulting from the Government’s eurobond issue (see Chart 2).

Chart 1. CAB and its composite flows

Chart 2. Net financial account investment flows

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

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Statistics, External statistics