Balance of payments of the Republic of Lithuania: June 2023

the surplus on the current account balance (CAB) significantly grew (90.5%), compared to May, and amounted to €277.9 million. It was mainly affected by a decrease in primary income deficit (from €106.9 million to €42.9 million) and a hike in the surplus on the balance of services (from €586.6 million to €715.5 million) (see Chart 1). With a rise in exports of services (3.8%) and a decline in imports of services (8.2%), the surplus balance of services grew by 22.0%, amounting to €715.5 million. Exports of goods fell more rapidly than imports (3.5% and 2.3% respectively), resulting in a slight increase (7.2%) in foreign trade deficit, to €411.6 million. The primary income deficit decreased by 59.8% to €42.9 million;

the secondary income balance remained in surplus, amounting to €16.9 million. Transfers from European Union (EU) support funds (€13.6 million) declined by 58.4%, whereas Lithuania’s calculated contributions to the EU budget remained unchanged and amounted to €43.8 million. Personal transfers from abroad amounted to €71.4 million, narrowing by 3.2% month on month. Personal transfers from Lithuania amounted to €25.7 million, a month-on-month increase of 7.0%;

the negative net flow of financial account investment (€1.4 million) was mainly driven by the negative net flow of portfolio investment (€954.6 million) due to the Government’s eurobond issue and which was not offset by a positive net flow of other investment (€1.0 billion) (see Chart 2).

Chart 1. CAB and its composite flows

Chart 2. Net financial account investment flows

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

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Statistics, External statistics