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Poland's Balance of payments in June 2014

Date: 13-08-2014

NBP data: Poland’s June 2014 balance of payments saw surpluses on the EU transfer, services and goods trade accounts. The balance of income account was – typically – negative. The total balance of the current and capital accounts was positive and amounted to EUR 2.8bn.

Preliminary June 2014 balance of payments data, released by Narodowy Bank Polski on 13 August, show Polish exports of goods at EUR 13.7bn in that month, i.e. 7.3% more than a year before. Imports rose by 9.6%, to reach almost EUR 13.4bn at the end of month. The resulting trade balance was positive and stood at EUR 0.3bn, having risen EUR 0.2bn. on the June 2013 figure.

The surplus on the service account was EUR 0.5bn. At the same time, credits resulting from services increased by 5.2% as compared to June 2013 - to reach close to EUR 2.8bn, whereas debits grew by 7.6% - to almost EUR 2.3bn.

June saw a surplus on the EU transfer account in the amount of EUR 0.8bn. The inflow of EU funds under current transfers was nearing EUR 0.1bn, and under capital transfers it reached EUR 0.7bn. In the same period, Poland paid EUR 0.3bn to the EU budget in membership fees.

The negative balance on the income account amounted to almost EUR 1.5bn. In the corresponding month of 2013, this account was also in deficit and slightly exceeded EUR 1.6bn.

In June 2014, the current account balance was negative and stood at EUR 0.4bn. In June 2013 this account was positive and reached EUR 0.1bn.

See: Balance of payments in June 2014

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