Balance of payments of the Republic of Lithuania: October 2022

although, compared to September, the deficit on the current account balance (CAB) narrowed significantly from €276.2 million to €4.6 million in October, the CAB remained in deficit. The decrease in the deficit was mainly determined by the primary income balance (€191.7 million) which turned to surplus due to agricultural subsidies from the European Union (EU) (see Chart 1). With a decline in exports and imports of services (by 3.8% and 2.3% respectively), the surplus on the balance of services went down by 6.3% and amounted to €499.4 million. The foreign trade deficit rose by 6.9% to €753.9 million, due to a fall in exports of goods which outpaced the imports (by 6.2% and 4.3% respectively);

the secondary income balance was in surplus and amounted to €51.8 million. Transfers from EU support funds (€66.1 million) went up by 2.3%, whereas Lithuania’s calculated contributions to the EU budget (€33.2 million) fell by 22.3% compared to September. Personal transfers from abroad amounted to €57.9 million, a month-on-month increase of 6.1%. Personal transfers from Lithuania amounted to €35.3 million, a month-on-month increase of 3.9%;
the positive net flow of financial account investment (€294.4 million) was mainly determined by the positive net flow of other investment, which was not offset by the negative flow of portfolio investment as a result of the Government’s eurobond issue (see Chart 2).

Chart 1. CAB and its composite flows

Chart 2. Net financial account investment flows

Detailed data for October is available on the Bank of Lithuania website (External statistics). 

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Statistics, External statistics