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International Internet Magazine. Baltic States news & analytics Friday, 01.11.2024, 00:50

Lithuania: International trade in services in Q2 2020

Statistics Lithuania, 30.09.2020.Print version
The Bank of Lithuania and Statistics Lithuania announce that in II quarter 2020, exports of services amounted to EUR 2.4 bn (20.6% less than in II quarter 2019), imports – EUR 1.2 bn (29.5% less).

The surplus on the balance of services amounted to EUR 1.2 bn or 10.1% of GDP, an annual decrease of 8.2%.


On a y-o-y basis, the highest decrease was recorded in exports and imports of travel services (87.9% and 89.1% respectively).


Transport services comprised the main bulk of export and import of services (64% and 55.9% respectively). In II quarter 2020, the largest surplus (EUR 624.7 mln) was recorded on the balance of road transport services, while the largest deficit (EUR 15.2 mln) – on the balance of postal and courier services.


Exports of services to the EU Member States (27 countries) accounted for 68.1% of total exports of services, a y-o-y decrease of 17.6%. Imports of services from the EU Member States accounted for 65.1% of total imports of services, a y-o-y decrease of 25.3%.


Germany was Lithuania’s major partner in exports of services in II quarter 2020. Over the year, the volume of exports to this country decreased by 10.2% (see Chart 2). Transport (79.1%) and other business (6.5%) services comprised the largest share of total exports of services to Germany.


Lithuania’s main partner in imports of services was Poland (see Chart 3). Over the year, the volume of imports from this country decreased by 17.5%. The largest share of total imports of services from Poland consisted of transport and other business services (83.1% and 7% respectively).




Structure and changes of exports and imports of services, II quarter 2020

 

Exports

Imports

EUR million

share, %

change, compared to II quarter 2019, %

EUR million

share, %

change, compared to II quarter 2019, %

Total services

2,408.1

100.0

–20.6

1,240.5

100.0

–29.5

Technical maintenance and repair services

48.9

2.0

–49.6

29.4

2.4

–44.0

Transport services

1,540.7

64.0

–13.6

692.9

55.9

–18.8

Carriage of passengers

15.4

0.6

–62.6

5.3

0.4

–89.3

Freight

967.3

40.2

–5.8

374.2

30.2

–13.6

Other transport services

558.0

23.2

–22.1

313.4

25.3

–15.7

Travel

46.7

1.9

–87.9

38.3

3.1

–89.1

Construction

83.4

3.5

–11.1

18.5

1.5

–62.1

Financial services

50.3

2.1

30.7

29.4

2.4

–26.2

Telecommunications, computer and information services

242.9

10.1

46.9

116.1

9.3

38.3

Telecommunications services

19.8

0.8

8.1

22.3

1.8

1.7

Computer services

214.7

8.9

51.8

86.0

6.9

57.1

Information services

8.4

0.4

49.6

7.8

0.6

7.7

Other business services

296.8

12.3

–13.6

261.0

21.0

–5.6

Research and technological development services

12.5

0.5

–15.2

3.1

0.2

–20.5

Professional and advisory management services

88.0

3.7

10.5

75.8

6.1

42.1

Technical, trade-related and other business services

196.3

8.1

–21.2

182.1

14.7

–16.9

Other undistributed services

98.4

4.1

–20.0

54.9

4.4

1.3

Sources: Bank of Lithuania and Statistics Lithuania.


 










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