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Poland’s balance of payments in December 2017

Date: 13.02.2018

NBP data: In December 2017, the current account of the balance of payments (BoP) posted a surplus in the services account (PLN 6.6bn) and in the secondary income account (PLN 0.8bn), and a deficit in the trade in goods (PLN 5.3bn) and in the primary income account (PLN 6.9bn). The total balance of the current and capital account in the month under analysis was positive and amounted to PLN 6.4 billion.

Preliminary data on Poland’s BoP for December 2017, released by Narodowy Bank Polski on 13 February 2018, show a deficit on the current account amounting to PLN 4.8bn. In December 2016, the balance was also negative and stood at PLN 0.5bn.

Exports of goods stood at PLN 64.0bn and were PLN 2.2bn (i.e. 3.3%) lower than a year earlier. Imports of goods rose by PLN 3.3bn (i.e. 5.1%) to PLN 69.3bn. As a result, the balance of trade in goods was negative and amounted to PLN 5.3bn. In the corresponding month of 2016 it was positive and stood at PLN 0.2bn.

Typically, the services balance was positive – it amounted to PLN 6.6bn. Credits on exports of services stood at PLN 20.2bn, which represented an increase of PLN 1.8bn (9.6%) as compared to December 2016. Debits stood at PLN 13.6bn, having increased by PLN 1.0bn (7.8%) on the corresponding month of 2016.

The primary income account was negative and amounted to PLN 6.9bn. In December 2016 it was also negative and stood at PLN 4.8bn. The primary income account deficit was mainly the result of the negative balance of investment income (PLN 6.3bn).

See: Balance of payments statistics

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