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Poland’s balance of payments in June 2017

Date: 11.08.2017

NBP Data: In June 2017, the current account of the balance of payments (BoP) posted a surplus in the services account (PLN 6.5bn) and a deficit in the primary income account (PLN 9.3bn), in the trade in goods account (PLN 0.9bn) and in the secondary income account (PLN 0.2bn). The total balance of the current and capital account was negative and amounted to PLN 1.4bn.

Preliminary data on Poland’s BoP for June 2017, released by Narodowy Bank Polski on 11 August 2017, show a deficit on the current account amounting to PLN 3.9bn. In the corresponding month of 2016, it was also negative and stood at PLN 3.2bn.

Exports of goods stood at PLN 70.0bn and were PLN 2.6bn higher (i.e. 3.9%) than a year earlier. Imports of goods rose by PLN 6.4bn (9.9%) to PLN 70.9bn. As a result, the balance of trade in goods was negative at minus PLN 0.9bn. In May 2016 it was positive at PLN 2.8bn.

Typically, the services balance was positive – it amounted to PLN 6.5bn. Credits on the export of services were PLN 18.5bn, which represented an increase of PLN 1.5bn (9.0%) as compared with the June 2016 figure. Debits stood at PLN 11.9bn, having increased by PLN 0.9bn (8.0%) on the corresponding month of 2016.

The primary income account was negative and amounted to PLN 9.3bn. In the corresponding month of 2016, it was also negative and stood at PLN 11.9bn. The primary income account deficit was mainly the result of the negative investment account (PLN 9.1bn).

See: Balance of payments statistics

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