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Poland’s balance of payments in November 2018

Date: 14.01.2019

NBP data: In November 2018, the current account of the balance of payments (BoP) posted a surplus in the services account (PLN 8.1bn) and a deficit in the primary income account (PLN 7.9bn), in the trade in goods account (PLN 1.0bn) and in the secondary income account (PLN 0.2bn). The balance of the combined current and capital accounts was positive and amounted to PLN 2.1bn.

Preliminary data on Poland’s BoP for November 2018, released by Narodowy Bank Polski on 14 January 2019, show a deficit on the current account amounting to PLN 1.0bn. In the corresponding month of 2017, this balance was positive and stood at PLN 0.4bn.

Exports of goods stood at PLN 86.2bn and were PLN 7.1bn higher (i.e. 8.9%) than a year earlier. Imports of goods rose by PLN 9.2bn (11.8%) to PLN 87.1bn. As a result, the balance of trade in goods was negative at minus PLN 1.0bn. In November 2017 it was positive at PLN 1.1bn.

Typically, the services balance was positive, amounting to PLN 8.1bn. Exports of services stood at PLN 22.2bn, which represented an increase of PLN 2.0bn (10.2%) as compared with the November 2017 figure. Imports of services stood at PLN 14.1bn, having increased by PLN 0.9bn (6.9%) on the corresponding month of 2017.

The primary income account balance was negative and amounted to PLN 7.9bn. In the corresponding month of 2017 it was also negative at PLN 8.6bn. The primary income account deficit was mostly the result of a negative investment account (PLN 6.6bn).

See: Balance of payments statistics

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