exports of services stood at EUR 1.7 bln, imports – EUR 1.2 bln. The surplus on the balance of services amounted to EUR 593.9 mln, or 6.4% of GDP. In Q1 2017, the surplus on the balance of services widened by EUR 145 mln, or 32.3%, year on year. The increase of the balance of services in the reference period stemmed from exports of services, which grew faster than imports (19.4 and 13.7% respectively);
during the quarter, year on year, strongest growth was recorded in exports of telecommunications as well as computer and information services (1.6 times) and imports of technical maintenance and repair services (36.1%);
the bulk of exports and imports of services (59.4 and 55.1% respectively) consisted of transport services. In Q1 2017, largest surplus (EUR 349.4 mln) was recorded in the balance of road transport services, while the largest deficit (EUR 57 mln) was on the balance of sea transport services.
export of services to EU countries accounted for 63.9%, to CIS countries – 19.9% of total export of services; imports of services from EU countries accounted for 63.4%, from CIS countries– 21.1% of total import of services;
Lithuania’s main partner in exports of services remain Russia; over the year, the volume of exports to Russia expanded by 14.3%, while exports of services to Germany, second in terms of export volume, increased by 24.1%. Transport and travel services comprised the largest share of total export of services to Russia (67.6 and 21% respectively), while transport and other business services accounted for the bulk of exports to Germany (73.3 and 10.3% respectively);
in the reference period, main partner in imports of services was Belarus, yet in Q1 2017, year on year, imports of services from Belarus contracted by 2.3%, while imports of services from Poland (second in terms of imports of services) increased by 23.1%. The structure of services imported from Belarus and Poland was largely the same. The largest share of imports of services from Belarus consisted of transport and travel services (72.6 and 19.8% respectively), from Poland – 63.6 and 26.0% respectively.
