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Poland’s balance of payments in February 2019

Date: 12.04.2019

NBP data: In February 2019, the current account of the balance of payments (BoP) posted a surplus in the services account (PLN 8.0bn) and a deficit in the primary income account (PLN 5.5bn), the trade in goods account (PLN 5.7bn) and the secondary income account (PLN 2.8bn). The balance of the combined current and capital accounts was negative and amounted to PLN 5.0bn.

Preliminary data on Poland’s BoP for February 2019, released by Narodowy Bank Polski on 12 April 2019, show a deficit in the current account amounting to PLN 6.0bn. In the corresponding month of 2018, it was also negative and stood at PLN 3.2bn.

Exports of goods stood at PLN 79.1bn and were PLN 9.7bn higher (i.e. 13.9%) than in the corresponding month of 2018. Imports of goods rose by PLN 12.5bn (i.e. 17.4%) to PLN 84.8bn. As a result, the balance of trade in goods was negative at PLN 5.7bn. In February 2018, it was also negative at PLN 2.8bn.

Typically. the services balance was positive, amounting to PLN 8.0bn. Exports of services amounted to PLN 19.8bn, which represented an increase of PLN 1.6bn (i.e. 8.8%) as compared with February 2018. Imports of services stood at PLN 11.8bn, having increased by PLN 1.3bn (i.e. 12.2%) on the corresponding month of 2018.

The primary income account was negative and amounted to PLN 5.5bn, which represented a PLN 1.1bn increase compared with the corresponding month of 2018. The primary income account surplus was mainly the result of the negative investment account (PLN 6.1bn).

See: Balance of payments statistics

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