The surplus on the balance of services amounted to EUR 1.3 bn or 10.3% of GDP, an annual increase of 32.7%.
In III quarter 2019, on a y-o-y basis, the highest increase was recorded in exports of construction services (60.2%) and imports of technical maintenance and repair services (58.7%).
Transport services comprised the main bulk of exports and imports of services (59.1% and 52.2% respectively). In III quarter 2019, the largest surplus (EUR 731.5 mln) was recorded on the balance of road transport services, while the largest deficit (EUR 63.4 mln) – on the balance of sea transport services.
Exports of services to EU Member States accounted for 71.2% of total exports of services, a y-o-y increase of 23.7%. Imports of services from EU Member States accounted for 63.3% of total imports of services, a y-o-y increase of 13%.
Germany was Lithuania’s major partner in exports of services in III quarter 2019. The volume of exports to this country increased by 26.4% over the year (see Chart 2). Transport (68.2%) and travel (12.5%) services comprised the largest share of total exports of services to Germany.
Lithuania’s major partner in imports of services was Belarus (see Chart 3). The volume of imports from this country increased by 9.7% over the year. The largest share of total imports of services from Belarus consisted of transport and travel services (62.5% and 31.1% respectively).
