Banks, Financial Services, Foreign trade , Lithuania
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Tuesday, 16.04.2024, 22:05
Lithuania's current account balance EUR 100 mln in September
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The negative financial account balance (LTL 148.6 million, or EUR 43 million) was due to the positive flow of net direct and portfolio investment, the Bank of Lithuania said.
In September 2014 the country's balance of payments for the sixth consecutive month recorded a CAB surplus, which amounted to LTL 346.8 million (EUR 100.4 million) and was LTL 206.1 million (EUR 59.7 million), or 37.3% less than in August. This decrease was due to significantly increased trade balance deficit – it amounted to LTL 188.6 million (EUR 54.6 million), as well as 32.1% increase in the negative primary income balance (LTL 397.8 million, or EUR 115.2 million). According to preliminary estimates, in July-September 2014 the CAB surplus amounted to LTL 986 million (EUR 285.6 million), or 2.9% of GDP, while in January-September 2014 – LTL 1.9 billion (EUR 548.2 million), or 2% of GDP.
In September 2014, the foreign trade deficit amounted to LTL 188.6 million (EUR 54.6 million). Compared to August 2014 it increased by LTL 166.2 million (EUR 48.1 million). Export and import of goods grew by 9.3% and 11.6% respectively in the reference period.
In January-September 2014, the trade balance deficit widened by LTL 921.3 million (EUR 266.8 million), or 42.6% year on year. The export of goods contracted by 1.5%, while import remained almost unchanged in the reference period.
In September 2014, compared to August, growth in the import of services (10.4%) outpaced export of services (2.1%); the balance of services surplus decreased by LTL 89.6 million (EUR 25.9 million), or 18.2%, while compared to September 2013, the balance of services surplus increased by LTL 36.5 million (EUR 10.6 million) or almost 10%. In January-September 2014, export of services expanded by 9.8%, while import of services – 9.1%; as a result, the balance of services surplus increased by 11.8% year on year (LTL 414.3 million, or EUR 119.9 million).
In September 2014, the country's official reserve assets posted an increase of LTL 188.8 million (EUR 54.7 million).
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