Balance of payments of the Republic of Lithuania: June 2020
Today, the Bank of Lithuania published the balance of payments for June 2020, which shows that:
the surplus on the current account balance (CAB) amounted to €249.2 million, a month‑on‑month increase of 6.8%. It was driven by the increased positive balance of services, the decreasing yet still in surplus secondary income balance and the declined negative balance of primary services (see Chart 1). With imports of goods rising more rapidly than exports (14.6% and 12.4% respectively), the foreign trade balance increased to €61.4 million. The surplus balance of services slightly improved (by 2.4%) due to an increase in imports and exports of services (10.9% and 7.4% respectively);
the surplus on the secondary income balance decreased by 20.4% over the month. Transfers from EU support funds declined 2.2 times, amounting to €29.0 million in June, while Lithuania’s calculated contributions to the EU budget dropped by 31.8% month on month, amounting to €34.5 million in June. Private individual remittances from abroad amounted to €51.3 million, increasing by 14.7% month on month. Private individual remittances from Lithuania amounted to €16.3 million, a month-on-month increase of 9.8%;
the positive net flow of financial account investment (€125.2 million) resulted from the positive net flows of other investment and portfolio investment as well as the increase in official reserve assets (see Chart 2).
Chart 1. CAB and its composite flows
Chart 2. Net financial account investment flows
Comprehensive balance of payments data are also published on the Bank of Lithuania website.
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