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Poland’s balance of payments in October 2015

Date: 14-12-2015

NBP data: In October 2015, the current account of the balance of payments (BoP) posted a deficit in the primary income account (PLN 5.3bn) and the secondary income account (PLN 0.4bn) and a surplus in the services account (PLN 3.1bn) and the trade in goods account (PLN 2.1bn). The balance of the combined current and capital accounts was positive and amounted to PLN 0.9bn.

Preliminary data on Poland’s BoP for October 2015, released by Narodowy Bank Polski on 14 December 2015, show a deficit on the current account amounting to PLN 0.5bn. In the corresponding month of 2014, the balance on the current account was also negative and stood at PLN 1.3bn.

Goods exports stood at PLN 65.2bn and were by PLN 2.5bn (i.e. 4.0%) higher than a year earlier. Imports of goods increased by PLN 1.2bn (i.e. 1.8%) to PLN 63.1bn. As a result, the balance of trade in goods was positive, amounting to PLN 2.1bn, while in October 2014 it was negative and amounted to PLN 1.6bn.

Typically, the balance of services was positive – in October 2015 it amounted to PLN 3.1bn. Credits on the exports of services were PLN 13.6bn, which represented an increase of PLN 0.6bn (i.e. of 4.5%) as compared with the October 2014 figure. Debits stood at PLN 10.5bn, having increased by PLN 0.7bn or 6.8% on the corresponding month of the previous year.

The primary income balance was negative and amounted to PLN 5.3bn. In the corresponding month of 2014, it was also negative at PLN 2.8bn. The primary income deficit was the result of a negative investment account (PLN 5.3bn), a negative balance of other primary income (PLN 0.2bn) and a positive balance of compensation of employees (PLN 0.2bn).

See: Balance of payments statistics (XLSX & PDF)

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