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Financial News: Lithuania Current Account Surplus Rises In Q3

Lithuania Current Account Surplus Rises In Q3

12/21/2020 - 08:18:00 (RTTNews)

(RTTNews) - Lithuania's current account surplus grew in the third quarter, after declining in the previous three months, data from the Bank of Lithuania showed on Monday. The current account surplus increased to 7.8 percent of gross domestic product from an upwardly revised 6.6 percent in the second quarter. In the first quarter, the ratio was 8.1 percent. The current account was in a surplus for a second consecutive year, the bank said. In value, the current account surplus grew to EUR 1.024 billion from EUR 0.757 billion in the previous three months. The accumulation of the current account surplus was determined by the increase in the surplus of income and secondary income balances and the change of the foreign trade balance from deficit to surplus, the bank said.

These factors offset the rise in the primary income balance deficit, the bank added.

In the third quarter of 2019, the current account surplus was EUR 0.398 billion or 3.1 percent of GDP.

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