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Poland’s balance of payments in January 2016

Date: 15-03-2016

NBP data: In January 2016 the current account of the balance of payments posted surpluses in the services (PLN 3.4bn), trade in goods (PLN 2.5bn) and secondary income (PLN 0.4bn) accounts and a deficit in the primary income account (PLN 2.9bn). The balance of the combined current and capital accounts was positive and amounted to PLN 10.5bn.

Preliminary data on Poland’s balance of payments for January 2016, released by Narodowy Bank Polski on 15 March 2016, show a surplus on the current account amounting to PLN 3.4 bn. In the corresponding month of 2015, the balance was negative and stood at PLN 1.0bn.

Goods exports stood at PLN 58.3bn and were PLN 1.3bn (i.e. 2.3%) higher than a year earlier. Imports of goods increased by PLN 1.5bn (i.e. 2.8%) to PLN 55.8bn. As a result, the balance of trade in goods was positive and reached PLN 2.5bn. In January 2015, it was also positive and stood at PLN 2.7bn.

Typically, the balance of services was positive – it amounted to PLN 3.4bn. Credits on the exports of services reached PLN 12.7bn, which represented an increase of PLN 0.9bn (i.e. 7.8%) as compared with January 2015. Debits stood at PLN 9.3bn, having increased by PLN 0.4bn (i.e. 4.4%) on the corresponding month of the previous year.

The primary income account was negative and amounted to PLN 2.9bn. In the corresponding month of 2015, it was also negative at PLN 5.9bn. The primary income deficit was the result of a negative investment account (PLN 5.2bn) and a positive balance of other primary income (PLN 2.3bn).

See: Balance of payments statistics (XLSX & PDF)

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