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Poland’s balance of payments in March 2017

Date: 15-05-2017

In March 2017, the current account of the balance of payments (BoP) posted a surplus in the services account (PLN 4.4bn) and a deficit in the primary income account (PLN 6.5bn), in the trade in goods account (PLN 0.9bn) and in the secondary income account (PLN 0.2bn). The balance of the combined current and capital accounts was negative and amounted to PLN 1.9 billion.

Preliminary data on Poland’s BoP for March 2017, released by Narodowy Bank Polski on 15 May 2016, show a deficit on the current account amounting to PLN 3.2bn. In the corresponding month of 2016, it was also negative and stood at PLN 0.9bn.

Exports of goods amounted to PLN 76.4bn and were PLN 9.9bn higher (14.9%) than a year earlier. Imports of goods rose by PLN 12.3bn (18.9%) to PLN 77.3bn. As a result, the balance of trade in goods was negative at minus PLN 0.9bn. In March 2016 it was positive at PLN 1.4bn.

Typically, the services account was positive – it amounted to PLN 4.4bn. Credits on the export of services were PLN 15.4bn, which represented an increase of PLN 1.8bn (12.9%) as compared with the March 2016 figure. Debits stood at PLN 11.0bn, having increased by PLN 1.1bn (10.8%) on the corresponding month of 2016.

The primary income account was negative and amounted to PLN 6.5bn. In the corresponding month of 2016, it was also negative at PLN 5.4bn. The primary income account deficit was mainly the result of the negative investment account (PLN 5.8bn).

See: Balance of payments statistics

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