Balance of payments of the Republic of Lithuania: May 2023
Today, the Bank of Lithuania published the balance of payments for May 2023, which shows that:
the surplus on the current account balance (CAB) amounted to €145.9 million, a month-on-month increase of 42.0%. The increase in the CAB surplus was mainly due to a decrease in the primary income deficit (from €269.0 million to €106.9 million) (see Chart 1). Imports of goods increased faster than their exports (by 6.9% and 4.9% respectively), thus increasing the foreign trade deficit by 27.6% and amounted to €384.1 million. With a decline in exports and imports of services (by 9.5% and 10.6% respectively), the surplus on the balance of services went down (by 7.7%) and amounted to €586.4 million;
the secondary income balance was in surplus, amounting to €50.2 million. Transfers from European Union (EU) support funds (€32.8 million) rose by 27.1%, whereas Lithuania’s calculated contributions to the EU budget (€43.8 million), compared to April, went up by 11.1%. Personal transfers from abroad amounted to €73.8 million, a month-on-month increase of 10.7%. Personal transfers from Lithuania amounted to €24.0 million, a month-on-month increase of 6.4%;
the negative net flow of financial account investment (€143.8 million) was mainly driven by the negative net flow of direct investment (€347.8 million) and a decrease in official reserve assets (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).
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