2024-07-15
Today, Lietuvos bankas published the balance of payments for May 2024, which shows that:
compared to April, the surplus on the current account balance (CAB) increased from €2.3 million to €249.5 million. This significant increase was due to an increase in the surplus balance of services and a narrowing of the primary income deficit (see Chart 1). The surplus in the balance of services widened (32.4 %) to €667.1 million with an increase (10.8%) in services exports and a slight increase (0.2 %) in imports. The deficit of primary income decreased (23.6%) and amounted to €190.3 million. As the export and import of goods increased (2.1% and 0.8% respectively), the foreign trade deficit decreased (12.4%) and amounted to €261.9 million;
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the surplus on the secondary income balance decreased and amounted to €34.6 million. Transfers from the European Union (EU) support funds and calculated Lithuanian contributions to the EU budget decreased by 10.6% and 2.1% respectively. Personal transfers from abroad decreased by 2.2%, while personal transfers from Lithuania increased by 4%;
the positive net flow of financial account investment (€236.0 million) was mainly due to the increase in official reserve assets and the positive net flow of other investment (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 on the balance of payments for May is available on the Bank of Lithuania’s website (External statistics).
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