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Poland’s balance of payments in February 2018

Date: 13.04.2018

NBP data: In February 2018, the current account of the balance of payments (BoP) posted deficits in the primary income account (PLN 6.8 billion), the trade in goods account (PLN 2.4 billion) and the secondary income account (PLN 1.5 billion) and a surplus in the services account (PLN 6.5 billion). The balance of the combined current and capital accounts was negative and amounted to PLN 3.1bn.

Preliminary data on Poland’s BoP for February 2018, released by Narodowy Bank Polski on 13 April 2018, show a deficit on the current account amounting to PLN 4.2bn. In the corresponding month of 2017, the balance was also negative and stood at PLN 1.3bn.

Exports of goods stood at PLN 67.8bn and were PLN 1.5bn (i.e. 2.3%) higher than a year earlier. Imports of goods rose by PLN 3.2bn (i.e. 4.8%) to PLN 70.2bn. As a result, the balance of trade in goods was negative at PLN 2.4bn. In February 2017 it was also negative at PLN 0.7bn.

Typically, the services balance was positive – it amounted to PLN 6.5bn. Credits on exports of services were PLN 17.7bn, which represented an increase of PLN 0.9bn (5.1%) on the February 2017 figure. Debits stood at PLN 11.3bn, having increased by PLN 0.9bn (8.4%) on the corresponding month of 2017.

The primary income balance was negative and amounted to PLN 6.8bn. In the corresponding month of 2017, it stood at a similar level. The negative primary income account resulted mainly from a negative balance of investment income (PLN 6.4bn).

See: Balance of payments statistics

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Table of 2018-12-14
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