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Poland’s balance of payments in April 2014

Date: 13-06-2014

NBP data: April 2014 saw a positive balance of services, trade in goods and EU transfers, while the balance of income account was negative. The total balance of current and capital accounts was positive and amounted to EUR 1.2bn.

Preliminary data on Poland’s balance of payments in April 2014, released by Narodowy Bank Polski on 13 June, show Polish exports of goods of EUR 14.2bn in April, i.e. 6.8% higher than a year before. Imports of goods grew by 5.4% and at the end of April reached EUR 13.3bn. As a result the positive balance of trade in goods stood at EUR 0.9bn, which represents an improvement of EUR 0.2bn against the April 2013 figure.

The positive balance of services amounted to EUR 0.6bn. At the same time credits on services increased by 1.4% y/y, to EUR 2.7bn, while debits rose by 4.2% y/y – to reach EUR 2.1bn.

April saw also a positive balance of EU transfers, which amounted to almost EUR 1.0bn. Inflows of funds from the EU in current transfers reached EUR 1.0bn, and in capital transfers – EUR 0.3bn. Over the same period, Poland paid to the EU budget EUR 0.3bn in membership fees.

The negative balance of the income account in April stood at EUR 1.2bn. In the same month of 2013 the balance of the income account was also negative and amounted to EUR 1.4bn.

The positive balance of the current account in April stood at EUR 1.0bn. In the same month of 2013 the balance of the current account was positive and amounted to EUR 0.6.

See: Balance of payments in April 2014

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