2021-07-14
Today, the Bank of Lithuania published the balance of payments for May 2021, which shows that:
the current account balance (CAB) turned from surplus to deficit and amounted to €15.9 million. This was determined by a substantial increase in the foreign trade deficit as well as the primary income balance deficit, although the latter has started declining (see Chart 1). A faster growth in foreign trade imports (6.5%), compared to exports (2.6%), significantly boosted the foreign trade balance deficit, which stood at €341.4 million. A larger increase in exports of services (6.8%), compared to that of imports (0.7%), enhanced the surplus in the balance of services (15.9%), which totalled €436.3 million;
the secondary income balance remained in surplus, standing at €25.0 million. Transfers from European Union (EU) support funds (€30.3 million) rose by 20.7%, whereas Lithuania’s calculated contributions to the EU budget (€36.0 million), compared to April, went up by 12.5%. Personal transfers from abroad amounted to €47.9 million – a month-on-month decrease of 3.4%. Personal transfers from Lithuania totalled €18.3 million, declining by 2.6% month on month;
the positive net financial account investment flow (€209.8 million) was determined by the increased positive net portfolio investment and other investment flows (see Chart 2).
Chart 1. CAB and its composite flows
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Chart 2. Net financial account investment flows
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Detailed data for May 2021 is available on the Bank of Lithuania website (External statistics).
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