The Bank of Lithuania published Lithuania’s balance of payments statistics for the fourth quarter of 2024, reporting that the current account surplus fell 15.1% quarter on quarter to EUR 399.9 million (2.0% of GDP). The current account remained in surplus compared with EUR 273.8 million (1.4% of GDP) in the fourth quarter of 2023, while the net financial account investment flow was negative at EUR 890.5 million (-4.4% of GDP), versus a positive EUR 33.7 million (0.2% of GDP) a year earlier. The goods trade deficit widened 41.9% to EUR 1.6 billion as goods exports fell 6.2% while imports declined 1.0%, and the services surplus narrowed 7.4% to EUR 2.1 billion with services imports up 10.3% versus 3.3% growth in exports. The primary income deficit narrowed 4.8 times to EUR 144.4 million, supported by a EUR 493.2 million surplus in other primary income attributed to higher European Union agricultural subsidies, while the secondary income deficit fell to EUR 8.5 million on larger EU support and other current transfers. The capital account surplus rose 2.7 times to EUR 550.1 million due to increased EU structural fund transfers for investment projects. On the financial account, negative net flows in other investment and direct investment (EUR 2.1 billion and EUR 838.6 million) were partly offset by a EUR 1.5 billion increase in official reserves and a EUR 589.2 million positive portfolio investment flow; the net international investment position was positive at EUR 364.8 million (0.5% of GDP) and gross external debt stood at EUR 60.9 billion (78.1% of GDP), with net external debt at -EUR 9.3 billion (-11.9% of GDP). In compiling the fourth-quarter release, the Bank revised balance of payments and international investment position data for the first to third quarters of 2024 and for January to December 2024.
Bank of Lithuania 2025-03-24
Bank of Lithuania releases Q4 2024 balance of payments data showing a smaller current account surplus and negative financial account flow
The Bank of Lithuania reported a 15.1% quarter-on-quarter decline in the current account surplus to EUR 399.9 million (2.0% of GDP) for Q4 2024. The goods trade deficit widened significantly, the services surplus narrowed, and the financial account showed negative net flows in other and direct investments. The capital account surplus increased due to higher EU structural fund transfers, and the net international investment position was positive at EUR 364.8 million (0.5% of GDP).