Analytics, Export, Foreign trade , Lithuania, Statistics

International Internet Magazine. Baltic States news & analytics Friday, 19.04.2024, 09:15

Lithuania: International trade in services in III 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, 08.01.2020.Print version
The Bank of Lithuania and Statistics Lithuania announce that in III quarter 2019, exports of services amounted to EUR 3.1 bn, with a y-o-y increase of 19.8%(almost one fifth), imports of services – EUR 1.8 bn and 11.8% respectively.

The surplus on the balance of services amounted to EUR 1.3 bn or 10.3% of GDP, an annual increase of 32.7%.


In III quarter 2019, on a y-o-y basis, the highest increase was recorded in exports of construction services (60.2%) and imports of technical maintenance and repair services (58.7%).


Transport services comprised the main bulk of exports and imports of services (59.1% and 52.2% respectively). In III quarter 2019, the largest surplus (EUR 731.5 mln) was recorded on the balance of road transport services, while the largest deficit (EUR 63.4 mln) – on the balance of sea transport services.


Exports of services to EU Member States accounted for 71.2% of total exports of services, a y-o-y increase of 23.7%. Imports of services from EU Member States accounted for 63.3% of total imports of services, a y-o-y increase of 13%.


Germany was Lithuania’s major partner in exports of services in III quarter 2019. The volume of exports to this country increased by 26.4% over the year (see Chart 2). Transport (68.2%) and travel (12.5%) services comprised the largest share of total exports of services to Germany.


Lithuania’s major partner in imports of services was Belarus (see Chart 3). The volume of imports from this country increased by 9.7% over the year. The largest share of total imports of services from Belarus consisted of transport and travel services (62.5% and 31.1% respectively).


Chart 1. Balance of services



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

 

Exports

Imports

EUR million

share, %

change, against III quarter 2018, %

EUR million

share, %

change, against III quarter 2018, %

Total services

3,134.9

100.0

19.8

1,804.4

100.0

11.8

Technical maintenance and repair services

94.5

3.0

35.7

39.8

2.2

58.7

Transport services

1,851.5

59.1

17.3

941.0

52.2

14.8

Passengers services

51.8

1.7

–47.8

51.1

2.8

–7.8

Freight services

1,085.6

34.6

30.1

477.6

26.5

33.0

Other transport services

714.1

22.8

10.8

412.3

22.9

1.7

Travel

425.2

13.6

11.5

377.4

20.9

6.0

Construction

109.3

3.5

60.2

19.2

1.1

–32.7

Financial services

37.6

1.2

–9.2

34.5

1.9

–8.8

Telecommunications, computer and information services

163.1

5.2

19.6

82.9

4.6

15.1

Telecommunications services

20.5

0.6

6.5

24.0

1.3

13.0

Computer services

137.5

4.4

22.8

53.1

3.0

17.4

Information services

5.1

0.2

–2.3

5.8

0.3

4.4

Other business services

320.5

10.2

37.9

246.0

13.6

12.4

Research and technological development services

13.6

0.4

12.4

2.4

0.1

2.3 times

Professional and advisory management services

77.3

2.5

8.2

52.7

2.9

8.8

Technical, trade-related and other business services

229.6

7.3

54.2

190.9

10.6

12.6

Other undistributed services

133.2

4.2

22.0

63.6

3.5

13.2

 







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