The Bank of Lithuania published balance of payments data on international trade in services for the first quarter of 2025, showing service exports of EUR 5.6 billion (up 11.7% year on year) and service imports of EUR 3.4 billion (up 16.0%). The resulting balance of services surplus rose 5.4% year on year to EUR 2.2 billion, equivalent to 11.5% of GDP. Transport services accounted for the largest shares of both exports and imports (44.4% and 46.3% respectively). The largest surplus was recorded in road transport services (EUR 1.2 billion), while the largest deficit was in sea freight transport services (EUR 162.6 million). Exports of services to European Union Member States increased 8.8% year on year and represented 73.3% of total service exports (down 1.9 percentage points), while imports from EU Member States rose 13.9% and represented 74.2% of total service imports (down 1.4 percentage points). Germany remained the largest export partner (exports up 3.4%, driven mainly by transport at 56.7% and other business services at 14.0%), and Poland was the main import partner (imports up 2.2%, with transport at 71.1% and travel at 13.1%).
Bank of Lithuania 2025-06-30
Bank of Lithuania releases Q1 2025 services trade data showing EUR 2.2 billion surplus
The Bank of Lithuania released Q1 2025 balance of payments data, showing service exports of EUR 5.6 billion (up 11.7% year on year) and imports of EUR 3.4 billion (up 16.0%), resulting in a services surplus of EUR 2.2 billion. Transport services dominated both exports and imports, with road transport showing the largest surplus and sea freight the largest deficit. Exports to EU Member States rose 8.8%, with Germany as the top export partner, while imports from the EU increased 13.9%, led by Poland.