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Poland’s balance of payments in March 2018

Date: 14.05.2018

NBP data: In March 2018, the current account of the balance of payments (BoP) posted deficits in the primary income account (PLN 8.1 billion), the trade in goods account (PLN 1.3 billion) and the secondary income account (PLN 0.3 billion), and a surplus in the services account (PLN 5.6 billion). The balance of the combined current and capital accounts was negative and amounted to PLN 3.2bn.

Preliminary data on Poland’s BoP for March 2018, released by Narodowy Bank Polski on 14 May 2018, show a deficit on the current account amounting to PLN 4.1bn. In the corresponding month of 2017, the balance was also negative and stood at PLN 1.2bn.

Exports of goods stood at PLN 76.3bn and were PLN 3.1bn (i.e. 3.8%) lower than a year earlier. Imports of goods fell by PLN 0.2bn (i.e. 0.3%) to PLN 77.6bn. The deficit in the trade in goods amounted to PLN 1.3bn. In the corresponding month of 2017, the balance of trade in goods was positive and stood at PLN 1.5bn.

Typically, the services balance was positive – it amounted to PLN 5.6bn. Credits on exports of services were PLN 17.6bn, which represented an increase of PLN 0.7bn (i.e. 4.4%) on the March 2017 figure. Debits stood at PLN 11.9bn, having increased by PLN 0.8bn (i.e. 6.8%) on the corresponding month of 2017.

The primary income balance was negative and amounted to PLN 8.1bn. 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 6.6bn).

See: Balance of payments statistics

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