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Poland’s Balance of Payments in December 2016

Date: 13-02-2017

NBP Data: In December 2016, the current account of the balance of payments posted a surplus in services (PLN 4.7bn) and a deficit in the primary income account (PLN 5.0bn), secondary income account (PLN 1.4bn) and in the trade in goods (PLN 0.7bn). The balance of the combined current and capital accounts was positive and amounted to PLN 3.4bn.

Preliminary data on Poland’s balance of payments for December 2016, released by NBP on 13 February 2017, show a deficit of PLN 2.4bn on the current account. In the corresponding month of 2015, it was negative and amounted to PLN 3.6bn.

Exports of goods amounted to PLN 64,8bn and were by PLN 6.1bn (10.4%) higher than a year earlier. Imports of goods rose by PLN 7.4bn (12.7%) to PLN 65.5bn. As a result, the balance of trade in goods was negative and amounted to PLN 0.7bn. In December 2015, it was positive and amounted to PLN 0.6bn.

Typically, the services balance was positive at PLN 4.7bn. Credits on exports of services were PLN 17.2bn and represented a PLN 1.6bn (10.4%) increase on the December 2015 figure. Debits were PLN 12.5bn, having grown by PLN 0.5bn (4.2%) compared with the corresponding month of 2015.

The primary income balance was negative and amounted to PLN 5.0bn. In the corresponding month of 2015, it was also negative at PLN 6.1bn. The negative primary income balance was mainly the result of a negative balance of investment income (PLN 7.6bn).

See: Balance of payments statistics

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