Balance of payments of the Republic of Lithuania: May 2022
Today, the Bank of Lithuania published the balance of payments for May 2022, which shows that:
although, compared with April, the deficit on the current account balance (CAB) shrank significantly (4.5 times), the CAB remained in deficit and amounted to €104.6 million. In May, the overall decrease in the deficit on the CAB was triggered by a dramatic plunge in the deficit on foreign trade (from €736.8 million to €445.5 million) and the increasing surplus on the balance of services (from €390.6 million to €452.0 million). As imports of goods declined more than exports (by 8.2% and 1.2%, respectively), the foreign trade deficit contracted by 39.5% and amounted to €445.5 million. The surplus on the balance of services increased by 15.7%, to stand at €452.0 million, following a decrease in imports of services (by 3.9%) and a rise in exports (by 2.4%). The deficit on primary income remained roughly unchanged and stood at €137.2 million;
the secondary income balance was in surplus, amounting to €26.1 million. Transfers from European Union (EU) support funds (€53.7 million) rose by 59.2%, whereas Lithuania’s calculated contributions to the EU budget remained unchanged and amounted to €42.6 million. Personal transfers from abroad amounted to €51.8 million, a month-on-month decrease of 4.1%. Personal transfers from Lithuania amounted to €31.2 million, representing a month-on-month decrease of 1.0%;
the positive net flow of financial account investment (€34.6 million) was determined by the increase in the positive flow of portfolio investment (see Chart 2).
Chart 1. CAB and its composite flows
Chart 2. Net financial account investment flows
Detailed data for May is available on the Bank of Lithuania website (External statistics).
Use the My Data Sets tool to create your own data sets, which are saved in your account and automatically updated as soon as they are published.