Balance of Payments in March 2012
NBP data: Preliminary data show Polish exports growth exceeding that of imports. This, along with the inflow of EU transfers, resulted in a positive overall balance of the current and capital accounts.
In March 2012, Polish exports amounted to EUR12.9bn and were 5.9% higher than the year before. Imports stood at EUR 13.3bn, having risen by 3.3%. These are the figures quoted by the preliminary information on the balance of payments, posted by the NBP on 16 May. While exports continued to rise at a rate observed in the first months of the year, imports shrank for the second consecutive month. The deficit on the trade account stood at EUR 399m.
The income deficit had widened on the year ago and was estimated at EUR 1.2bn. On the other hand, surpluses had increased on the service account (EUR 396m) and on the current transfer account (EUR 971m). As a result, current account deficit totalled EUR 228m, as against EUR 1.1bn the year before.
The NBP release also shows substantial FDI inflow to Poland in March, and a simultaneous rise in the surplus on portfolio investment. Similarly, there was a marked increase in Polish investment abroad, primarily owing to the expansion of KGHM into Canada. The total balance of the current and capital accounts was positive and reached EUR 148m.
See: Balance of payments in March 2012