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Poland’s balance of payments in July 2015

Date: 14-09-2015

NBP Data: In July 2015 the current account of the balance of payments posted a deficit in the trade in goods and primary income accounts as well as well as surpluses in the services and secondary income account. The balance of the combined current and capital accounts was in deficit and amounted to PLN 6.0bn.

Preliminary data on Poland’s balance of payments in July 2015, published by NBP on 14 September 2015, show a deficit on the current account amounting to PLN 6.9bn. In the corresponding month of 2014, the balance on the current account was also negative and stood at nearly PLN 3.0bn.

Goods exports stood at PLN 56.3bn and were PLN 0.7bn (i.e. 1.3%) higher than a year earlier. Imports of goods increased by PLN 4.0bn (i.e. 7.2%), to PLN 60.7bn. As a result, the balance of trade in goods was negative and amounted to PLN 4.4bn, which represented a deepening of the deficit by PLN 3.3 billion as compared to July 2014.

Typically, the service account was in surplus – in July 2015 it amounted to PLN 2.6bn. Credits resulting from services exports stood at PLN 14.0bn, representing an increase of PLN 0.3bn (2.1%). Debits stood at PLN 11.4bn, having increased by PLN 0.4bn (or 4.1%) on the corresponding period of the previous year.

The primary income account was in deficit of PLN 5.3bn. The negative value of this balance was PLN 0.3bn greater than in the corresponding month of 2014. This balance of primary income was the result of a negative investment account balance (PLN 6.0bn), and surpluses on compensation of employees (PLN 0.5bn) and other primary income (PLN 0.2bn).

See: Balance of payments statistics (XLSX & PDF)

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