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Poland’s balance of payments in December 2018

Date: 13.02.2019

NBP data: In December 2018, the current account of the balance of payments (BoP) posted a surplus in the services account (PLN 7.8bn) and a deficit in the primary income account (PLN 6.7bn), in the trade in goods account (PLN 5.7bn) and in the secondary income account (PLN 1.4bn). The balance of the combined current and capital accounts was positive and amounted to PLN 7.1bn.

Preliminary data on Poland’s BoP for December 2018, released by Narodowy Bank Polski on 13 February 2018, show a deficit on the current account amounting to PLN 6.0bn. In the corresponding month of 2017, it was also negative and stood at PLN 5.7bn.

Exports of goods stood at PLN 68.7bn and were PLN 3.0bn higher (i.e. 4.5%) than in the corresponding month of 2017. Imports of goods rose by PLN 3.7bn (i.e. 5.2%) to PLN 74.4bn. As a result, the balance of trade in goods was negative at minus PLN 5.7bn. In December 2017, it was also negative at PLN 5.0bn.

Typically, the services balance was positive, amounting to PLN 7.8bn. Exports of services were PLN 22.1bn, which represented an increase of PLN 2.0bn (i.e. 10.1%) as compared with the December 2017 figure. Imports of services stood at PLN 14.2bn, having increased by PLN 0.8bn (i.e. 5.7%) on the corresponding month of 2017.

The primary income account was negative and amounted to PLN 6.7bn, which represented a PLN 1.0bn reduction of the deficit as compared with the corresponding month of 2017. The primary income account deficit was mainly the result of the negative investment account (PLN 6.2bn).

See: Balance of payments statistics

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