Balance of payments of the Republic of Lithuania: November 2022
Today, the Bank of Lithuania published the balance of payments for November 2022, which shows that:
the surplus on the current account balance (CAB), which was recorded for the second time since early 2022, stood at €90.2 million. This was mainly driven by a significant contraction in foreign trade deficit and an increase in the surplus on the balance of services (see Chart 1). A more rapid decrease in foreign trade imports (13%), compared to exports (6.3%), significantly reduced the foreign trade deficit, which stood at €395.7 million. As export of services grew faster than imports (by 5.9% and 4.2% respectively), the surplus on the balance of services went up by 9.1% and amounted to €544.6 million;
the secondary income balance was in surplus, amounting to €0.2 million. Transfers from European Union (EU) support funds (€20.9 million) contracted by 3.2 times, whereas Lithuania’s calculated contributions to the EU budget (€41.7 million) went up by 25.9%, compared to October. Personal transfers from abroad amounted to €59.6 million, a month-on-month increase of 3.0%. Personal transfers from Lithuania amounted to €33.0 million, representing a month-on-month decrease of 6.6%;
the negative net flow of financial account investment (€272.4 million) was mainly driven by the negative net flow of other investment (see Chart 2).
Chart 1. CAB and its composite flows
Chart 2. Net financial account investment flows
Detailed data for November is available on the Bank of Lithuania website (External statistics).
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