Analytics, Foreign trade , Lithuania, Statistics

International Internet Magazine. Baltic States news & analytics Friday, 26.04.2024, 12:18

Lithuania: International trade in services in I quarter 2019

Violeta Kazlauskienė Senior Statistician External Statistics Division Statistics Department Economics and Financial Stability Service Bank of Lithuania, Eigirdas Griškevičius Chief Specialist International Trade and Foreign Investment Statistics Division Statistics Lithuania , 08.07.2019.Print version
The Bank of Lithuania and Statistics Lithuania announce that in I quarter 2019, exports of services amounted to EUR 2.5 bn, a y-o-y increase of 19.2%, imports of services – EUR 1.4 bn and 14.6% respectively. The surplus on the balance of services amounted to EUR 1.0 bn or 9.6% of GDP, an annual increase of 26.6%.

In I quarter 2019, on a y-o-y basis, the highest increase was recorded in exports of technical maintenance and repair services (38.6%) and imports of construction services (3.2 times) (see the table below).

Transport services comprised the main bulk of exports and imports of services (63.0% and 54.5% respectively). In I quarter 2019, the largest surplus (EUR 610.6 mln) was recorded on the balance of road transport services, while the largest deficit (EUR 51.8 mln) – on the balance of sea transport services.

Exports of services to EU Member States accounted for 69.7% of total exports of services, a year-on-year increase of 26.8%. Imports of services from EU Member States accounted for 65.0% of total imports of services, a year-on-year increase of 18.0%.

Germany was Lithuania’s major partner in exports of services in I quarter 2019. The volume of exports to this country increased by 33.0% over the year (see Chart 2). Transport (78.1%) and other business (7.5%) services comprised the largest share of total exports of services to Germany.

Lithuania’s major partner in imports of services was Poland (see Chart 3). The volume of imports to this country increased by 24.2% over the year. The largest share of total imports of services from Poland consisted of transport and travel services (66.6% and 18.5% respectively).



Structure and changes of exports and imports of services, I quarter 2019

 

Exports

Imports

EUR million

share, %

change, against I quarter 2018, %

EUR million

share, %

change, against I quarter 2018, %

Total services

2,468.0

100.0

19.2

1,449.7

100.0

14.6

Technical maintenance and repair services

77.0

3.1

38.6

42.6

2.9

24.9

Transport services

1,554.8

63.0

24.4

790.2

54.5

18.8

Passengers services

16.9

0.7

-58.1

32.8

2.3

-7.8

Freight services

932.9

37.8

31.5

402.8

27.8

28.2

Other transport services

605.0

24.5

20.9

354.6

24.4

12.4

Travel

207.5

8.4

1.8

196.6

13.6

1.0

Construction

70.7

2.9

16.6

22.9

1.6

3.2 times

Financial services

33.8

1.4

3.1

38.8

2.7

–5.1

Telecommunications, computer and information services

147.1

6.0

14.3

82.7

5.7

10.8

Telecommunications services

18.6

0.8

–16.5

22.9

1.6

6.1

Computer services

123.4

5.0

21.6

54.8

3.8

14.0

Information services

5.1

0.2

3.1

5.0

0.3

0.4

Other business services

256.1

10.4

32.4

217.8

15.0

9.3

Research and technological development services

10.3

0.4

27.7

2.0

0.1

–1.0

Professional and advisory management services

73.3

3.0

8.3

56.8

3.9

5.1

Technical, trade-related and other business services

172.5

7.0

46.5

159.0

11.0

11.1

Other undistributed services

121.0

4.8

–16.6

58.1

4.0

16.9









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