The Bank of Lithuania released fourth-quarter 2024 balance of payments data on Lithuania’s international trade in services, showing services exports of EUR 6.0 billion and imports of EUR 3.9 billion. The resulting surplus on the balance of services rose to EUR 2.1 billion, equivalent to 10.5% of GDP. Year on year, services exports increased by 1.4% while imports rose by 7.7%, with the services balance up 18.6%. Construction services recorded the fastest growth rates, with exports up 24.6% and imports increasing by a factor of 2.1, while transport services saw the largest monetary increases in both exports (EUR 192.0 million) and imports (EUR 178.7 million); transport also represented the largest share of services trade (44.9% of exports and 44.0% of imports). Exports to EU Member States rose by 8.2% and accounted for 73.3% of total services exports, while imports from the EU increased by 8.0% and accounted for 73.4%. The Bank of Lithuania noted that data for the first to third quarters of 2024 were revised when compiling the fourth-quarter dataset.
Bank of Lithuania 2025-03-31
Bank of Lithuania publishes revised Q4 2024 international trade in services data showing a EUR 2.1 billion surplus
The Bank of Lithuania reported a fourth-quarter 2024 services trade surplus of EUR 2.1 billion, or 10.5% of GDP, with exports at EUR 6.0 billion and imports at EUR 3.9 billion. Year-on-year, services exports grew by 1.4% and imports by 7.7%, with construction services showing the fastest growth. Revisions were made to data from the first to third quarters of 2024.