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Balance of payments in January 2012

Date: 13-03-2012

NBP data: According to the preliminary information on the balance of payments in January 2012, exports rose by 6.8%, and imports by 9.4%, as compared to January 2011.

According to the preliminary information on the balance of payments, published on 13 January 2012, exports were estimated at EUR 11.3 billion in January 2012, and imports at EUR 12.1 billion. Unlike in the previous months, imports growth in January exceeded that of exports. The negative trade balance of approximately EUR 0.8 billion was accompanied by a negative income balance estimated at EUR 1.1 billion. The component which played a major role in the negative income balance was foreign investors’ income on their shareholdings in Polish companies totalling EUR 766 million in January, with EUR 516 million, i.e. a major part, reinvested in Poland.

The January current transfer balance was also negative, which is a very rare development. Membership contribution paid by Poland to the EU budget amounted to EUR 324 million, while the inflow of EU funds to Poland totalled a mere EUR 66 million (the situation was similar in January 2011).

Among the current account components, only the balance of trade in services was positive, mainly owing to Polish transportation companies offering services outside Poland. The negative current account balance totalled more than EUR 1.8 billion.

A positive balance of foreign investment in Poland, amounting to EUR 1.5 billion, was posted primarily due to increased inflow of capital earmarked for the purchase of government securities.

See: Balance of payments in January 2012

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