Lithuanian current account surplus falls in December

Lithuanian current account surplus falls in December
Lithuania’s current account deficit was €245mn in December 2018
By bne IntelliNews February 14, 2019

Lithuania’s current account showed a deficit of €246.46mn in December, the Bank of Lithuania reported on February 14.

The current account decreased 13.2% m/m and 15.5% on the year. The monthly decrease is due to the widening of the deficit on the goods account as well as the deteriorating balances on the services and secondary income accounts, data showed. The y/y fall in the headline figure also comes in as an effect of the worsened balance in goods trade.

Lithuania’s goods trade deficit increased 23% m/m to €153.9mn in December while the y/y increase was massive at 209%. Exports fell 13.1% m/m to €2.24bn; imports retreated 11.4% m/m to €2.4bn. 

In y/y terms, sales abroad fell 2.8%, with imports expanding 1.7%.

On the services account, the surplus fell 15.3% on the month to €257.55mn while growing 15% y/y. 

The balance on the primary income account showed a surplus of €3.96mn in December, a changeover from a deficit of €50.59mn the month before; in annual terms, the tiny surplus also follows a deficit that came in at €78.35mn in December 2017.

The surplus on the secondary income account fell 10.1% m/m to €106.25mn in the twelfth month while falling 32.5% y/y.