2025-06-30
Review of the Balance of Payments services exports and imports for Q1 2025
Today, Lietuvos bankas published the data on the international trade in services for the first quarter of 2025, which show that:
in the first quarter of 2025, exports of services amounted to €5.6 billion, a year-on-year increase of 11.7%, whereas imports of services stood at €3.4 billion, up by 16.0% year on year.
The surplus on the balance of services (€2.2 billion or 11.5% of GDP) went up by 5.4% over the year (see Chart 1).
Transport services comprised the largest share of exports and imports of services (44.4% and 46.3% respectively) (see Chart 2). During the period under review, the largest surplus (€1.2 billion) was recorded on the balance of road transport services, while the largest deficit (€162.6 million) was on the balance of sea freight transport services.
In the first quarter of 2025, exports of services to the EU Member States went up by 8.8% year on year and accounted for 73.3% of total exports of services, i.e. this share contracted by 1.9 percentage points within the whole structure of exports of services. Imports of services from the EU Member States rose by 13.9% over the year and stood at 74.2%, i.e. this share contracted by 1.4 percentage points within the whole structure of imports of services.
Germany remains Lithuania’s major partner in exports of services. The volume of exports to this country expanded by 3.4% over the year (see Chart 3). Transport (56.7%) and other business (14.0%) services comprised the largest share of total exports of services to Germany.
Lithuania’s main partner in imports of services was Poland (see Chart 4). Imports from this country grew by 2.2% year on year. Transport and travel services (71.1% and 13.1% respectively) made up the largest share of imports of services from Poland.
Chart 1. Balance of services
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Chart 2. Exports and imports of services by type of service
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Chart 3. Key partners in exports of services
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Chart 4. Key partners in imports of services
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Detailed data on exports and imports of services is available on the Bank of Lithuania website (under External statistics).
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