Bank of Lithuania
2023-12-14
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Today, the Bank of Lithuania published the balance of payments for October 2023, which shows that:

the surplus on the current account balance (CAB) in October was down by 15.8%, compared to September, and amounted to €507.6 million. It was determined by the surplus balances of services and secondary income, whereas it’s decrease was mainly influenced by significant growth in foreign trade deficit (see Chart 1). As imports of goods grew more rapidly than exports (by 5.9% and 1.7% respectively), the foreign trade deficit rose by 54.0% and amounted to €420.6 million. With the rise in exports and imports of services (by 9.9% and 8.5% respectively), the surplus of the balance of services went up (by 11.5%) and amounted to €845.0 million;

Balance of payments of the Republic of Lithuania: October 2023 Balance of payments of the Republic of Lithuania: October 2023 Balance of payments of the Republic of Lithuania: October 2023

the surplus on the secondary income balance amounted to €111.5 million. Transfers from European Union (EU) support funds rose by a factor of 3 month on month and amounted to €87 million, whereas Lithuania’s calculated contributions to the EU budget remained unchanged at €43.1 million. Personal transfers from abroad and from Lithuania rose by 16.5% and 6.9% respectively, to stand at €80.9 million and €27.1 million respectively;

the positive net flow of financial account investment (€1.2 billion) was mainly driven by the positive net flow of other investment (€1.3 billion) and portfolio investment (€110.6 million) (see Chart 2).

Chart 1. CAB and its composite flows

Balance of payments of the Republic of Lithuania: October 2023

Chart 2. Net financial account investment flows

Balance of payments of the Republic of Lithuania: October 2023

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

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