2024-11-13
Today, Lietuvos bankas published the balance of payments for September 2024, which shows that:
the surplus on the current account balance (CAB) increased from €282.1 million to €540.4 million, compared to August. This development was mainly determined by a contraction in the foreign trade deficit and an increase in the surplus balance of services (see Chart 1). Influenced by a decrease in imports of goods (2.9%) and a rise in exports (1.8%), the foreign trade deficit fell by 54.4% and amounted to €131.7 million. Compared to the previous period, after exports of services rose by 3.5% and imports dropped by 8.4%, the surplus on the balance of services grew by 21.1%, amounting to €848.9 million. The primary income deficit rose by 42.2% to €205.0 million;
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the surplus on the secondary income balance totalled €28.2 million. Transfers from European Union (EU) support funds rose by 17.9% month on month and amounted to €27.5 million, whereas Lithuania’s calculated contributions to the EU budget remained unchanged, amounting to €44.4 million. Personal transfers from abroad and from Lithuania fell by 3.8% and 26.9% respectively, to stand at €69.1 million and €25.5 million respectively;
the positive net flow of financial account investment (€1.0 billion) was mainly driven by the positive net flow of portfolio investment (€867.1 million) and other investment (€308.8 million), which offset the negative net flow of direct investment (€117.6 million) (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 September is available on Lietuvos bankas’ website (External statistics).
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