OREANDA-NEWS. On 24 April 2009 was announced, that in February 2009, for the first time in recent five years the country's Current Account of the Balance of Payments was positive at LTL 70.7 million, a month-on-month change of LTL 175 million and change of LTL 637.1 million compared to December 2008. Positive current account balance was registered due to positive surplus on the balance of current transfers.

According to the data of the Department of Statistics under the Government of the Republic of Lithuania, the February 2009 export of goods decreased month on month by 1.9% and import of goods grew by 2.4%. Compared to December 2008, export and import decreased by 12.3% and 27.3%, respectively.

In February 2009, the deficit on the trade balance made up LTL 281.3 million, a month-on-month increase of LTL 139.1 million and a decrease of LTL 834.8 million or 74.8% compared to December 2008.

In January-February 2009 as compared to January-February 2008, export and import of goods went down respectively by 21.8% and 41% (excluding mineral products, a decrease in of export and import of goods respectively made up 22.9% and 45.1%).

Export of goods fell as a result of a decrease in export of electrical machinery and equipment by 50.9%, ground vehicles by 46.4%, and processed oil lubricants and lubricants received from bitumen minerals by 16.4%. Import was decreasing mainly as a result of a fall in import of ground vehicles by 76.2%, crude oil by 27.6%, electrical machinery and equipment by 57.5%. A decline in export and import of mineral products was driven by a fall of prices for crude oil and oil products.

In January-February 2009, Lithuanian export of goods to EU countries and CIS countries went down year on year by 20.7 % and 31 %, respectively. During the same period, import of goods from EU countries fell by 46.9%, while import and CIS countries fell by  30.8%. As import of goods from EU was contracting more rapidly compared to export, the balance with these countries became positive (LTL 362 million).

Export of services grew month on month by 7.1%, and import of services hiked by 3% month on month in February 2009 (compared to December 2008, export and import of services decreased respectively by 44.9 % and 34.2 %). In February this year, the balance on services was positive showing LTL 31.8 million (in January 2009, it was positive at LTL 11.5 million and in December 2008 it amounted to LTL 199.7 million ).

In February, payments to non-residents for their investments in Lithuania made up LTL 277.3 million, and income of domestic economic entities from their investments abroad made up LTL 163.5 million. The deficit on the investment income balance was LTL 113.8 million in February. Considering the negative balance of compensation of employees, gross income balance deficit was LTL 127.8 million (in January 2009, gross income deficit was LTL 158.1 million). Deficit narrowed mainly because of contraction of foreign direct investment income deficit and other investment income deficit.

In February 2009, the surplus on the balance of current transfers was positive at LTL 297.6 million. While in January this year the balance was with a deficit of LTL 22.2 million.

In February 2009, transfers from EU support funds made up LTL 385.4 million and remittances by individuals made up LTL 177.4 million. In January, the said transfers amounted respectively to LTL 1.7 million and LTL 160.5 million.

In February 2009, Lithuania?s dues to EU budget increased month on month by LTL 113.8 million, while remittances by individuals from Lithuania went down by LTL 22.3 million.

Capital and financial accounts balance. In February 2009, the flow of investments by domestic economic entities abroad, excluding official reserve assets, reached LTL 256.5 million, while gross flow of investments in Lithuania was negative at LTL 192.2 million, showing the investment outflow. Accordingly, the net flow of all investments (including investment outflow and inflow) was negative too (LTL 448.6 million). In February 2009, the net negative flow of all investments decreased by LTL 613.7 million or 57.8% month on month.

In February, the flow of non-repayable capital transfers to Lithuania made up LTL 443.6 million (in January 2009, there were no such transfers registered).