Balance of payments of the Republic of Lithuania: March 2023

the surplus on the current account balance (CAB) in March was down by a factor of 2.1, compared to February, and amounted to €106.9 million. It was mainly underpinned by an increase in foreign trade deficit (see Chart 1). As imports of goods grew more rapidly than exports (by 17.9% and 14.0% respectively), the foreign trade deficit rose by 52.9% and amounted to €495.0 million. With the rise in exports and imports of services (by 10.1% and 18.4% respectively), the surplus on the balance of services slightly went down (by 1.2%) and amounted to €661.0 million. As a result of other primary income balance, which turned to surplus due to EU subsidies for agriculture, the deficit on primary income balance contracted by a factor of 2.2 and amounted to €56.1 million;

the secondary income balance was in deficit, amounting to €3.1 million. Transfers from EU support funds (€33.9 million) declined by 5.8%, whereas Lithuania’s calculated contributions to the EU budget (€62.9 million) went up by 19.6%, compared to February. Personal transfers from abroad amounted to €74.8 million, a month-on-month increase of 15.3%. Personal transfers from Lithuania amounted to €39.9 million, a month-on-month increase of 17.0%;

the positive net flow of financial account investment (€1.0 billion) was influenced by the positive net flows of other investment and portfolio investment as well as an increase in official reserve assets (see Chart 2).

Chart 1. CAB and its composite flows

Chart 2. Net financial account investment flows

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

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Statistics, External statistics