Balance of payments of the Republic of Lithuania: May 2021
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
Chart 2. Net financial account investment flows
Detailed data for May 2021 is available on the Bank of Lithuania website (External statistics).
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