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Thursday, 25.04.2024, 16:15
In Q3, exports of services amounted to EUR 2.2 bln, imports – EUR 1.3 bln in Lithuania
Print versionDuring the quarter, compared to the respective period of the previous year, the largest growth (62.4%) was recorded in the exports of telecommunications, computer and information services, as well as in imports of these and transport services (16.9% each).
The bulk of exports and imports of services (56.1 and 52.7% respectively) consisted of transport services. In III quarter 2017, the largest surplus (EUR 413.7 million) was recorded on the balance of road transport services, the largest deficit (EUR 65.3 million) – on the balance of sea transport services.
The exports of services to EU countries accounted for 64.7, to CIS countries – for 21.2% of the total exports of services; the imports of services from EU countries accounted for 63.1, from CIS countries – for 21.6% of the total imports of services.
In III quarter 2017, compared to the respective quarter of the previous year, exports of services to EU countries increased by 27.7, to CIS countries – 11.5%. Over the year, imports from EU countries grew by 9.2, from CIS countries – 8.1%.
Russia remains the main Lithuania’s partner in the exports of services. Over the year, the volume of exports to Russia increased by 19.7%. Exports of services to Germany (second in terms of service exports) increased by 53%.
Transport and travel services comprised the largest share of the total exports of services to Russia and Germany (59.9 and 31.9% and 68.5 and 12.3% respectively).
The main Lithuania’s partner in the imports of services was Belarus. Over the year, the volume of imports from Belarus increased by 8.1%, while imports of services from Russia (second in terms of service imports) increased by 10.7%. The structure of services imported from Belarus and Russia differed just marginally; the largest shares of imports of services from both countries consisted of transport and travel services: from Belarus – 64.8 and 30.2%, from Russia – 69.3 and 17.8% respectively.
Structure of exports and imports of services, III quarter 2017
|
|
Exports |
Imports |
||||
|
EUR million |
share, % |
against III quarter 2016, % |
EUR million |
share, % |
against III quarter 2016, % |
|
|
Services, total |
2 227.9 |
100.0 |
22.5 |
1 328.7 |
100.0 |
10.2 |
|
Maintenance and repair services |
68.4 |
3.1 |
48.8 |
30.8 |
2.3 |
4.4 |
|
Transport services |
1 250.3 |
56.1 |
26.4 |
700.4 |
52.7 |
16.9 |
|
Passenger transport |
84.9 |
3.8 |
17.4 |
45.8 |
3.4 |
–17.2 |
|
Freight transport |
679.3 |
30.5 |
26.9 |
319.7 |
24.1 |
16.5 |
|
Other transport |
486.1 |
21.8 |
27.5 |
334.9 |
25.2 |
24.3 |
|
Travel |
361.7 |
16.2 |
3.6 |
276.6 |
20.8 |
0.5 |
|
Construction |
83.8 |
3.8 |
30.8 |
7.5 |
0.5 |
–23.2 |
|
Financial services |
31.2 |
1.4 |
19.4 |
34.3 |
2.6 |
7.0 |
|
Telecommunications, computer and information
services |
113.2 |
5.1 |
62.4 |
57.9 |
4.4 |
16.9 |
|
Telecommunications services |
21.6 |
1.0 |
48.1 |
21.0 |
1.6 |
–14.3 |
|
Computer services |
87.1 |
3.9 |
61.3 |
33.9 |
2.6 |
45.3 |
|
Information services |
4.5 |
0.2 |
3.9 times |
3.0 |
0.2 |
79.5 |
|
Other business services |
201.4 |
9.0 |
30.7 |
173.6 |
13.1 |
12.5 |
|
Research and development services |
10.2 |
0.5 |
28.4 |
1.4 |
0.1 |
–27.0 |
|
Professional and management consulting
services |
74.3 |
3.3 |
22.8 |
47.6 |
3.6 |
4.9 |
|
Technical, trade-related and other business
services |
116.9 |
5.2 |
36.4 |
124.6 |
9.4 |
16.4 |
|
Other services not elsewhere classified |
117.9 |
5.3 |
–2.6 |
47.6 |
3.6 |
–15.3 |
Source: Balance of payments data.
Detailed data on exports and imports of services are available on the website of the Bank of Lithuania (under External Statistics).
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