2020-11-13
Today, the Bank of Lithuania published the balance of payments for September 2020, which shows that:
the surplus on the current account balance (CAB) amounted to €402.1 million, a month‑on‑month increase of 18.8%. This was determined by a two-fold rise in the foreign trade balance surplus (see Chart 1), reaching €152.6 million, which resulted from exports of goods outpacing their imports (9.4% and 6.1% respectively). Imports of services declined at a more rapid pace compared to exports (4.1% and 2.9%), which led to a slight decrease in the surplus balance of services (0.8%). The deficit on the primary income balance contracted as well (by 9.1%);
the surplus on the secondary income balance decreased by 35.7% over the month. Transfers from European Union (EU) support funds increased by 74.8%, amounting to €34.3 million in September, while Lithuania’s calculated contributions to the EU budget grew by 77.8% month on month, amounting to €26.7 million in September. Private individual remittances from abroad amounted to €51.2 million, a month-on-month increase of 3.4%. Private individual remittances from Lithuania amounted to €18.2 million, a month-on-month increase of 4.7%;
the positive net flow of financial account investment (€256.9 million) resulted from the positive net flows of other and portfolio investment (see Chart 2).
Chart 1. CAB and its composite flows
Chart 2. Net financial account investment flows
Detailed data for September 2020 is available on the Bank of Lithuania website (External statistics).
Download in PDF (66.2 KB download icon)