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Poland’s balance of payments in March 2016

Date: 13-05-2016

In March 2016, surpluses were recorded on the service and trade accounts of the current account (of PLN 3.5bn and PLN 0.9bn, respectively), while the primary and secondary income accounts were in deficit (of PLN 4.0bn and PLN 0.8bn, respectively). The balance of the combined current and capital accounts was negative at PLN 0.2bn.

Preliminary data on Poland’s balance of payments in March 2016, released by Narodowy Bank Polski on 13 May 2016, show a deficit of PLN 0.4bn on the country's current account. In the corresponding month of 2015, the balance was positive and stood at PLN 4.4bn.

Exports of goods posted PLN 66.2bn, i.e. PLN 2.5bn (3.9%) more than a year earlier. Imports of goods increased by PLN 3.6bn (i.e. 5.8%), to PLN 65.3bn. The resultant balance of trade in goods was in surplus, amounting to PLN 0.9bn. In March 2015 this balance was also positive and stood at PLN 2.0bn.

Typically, the services account was in surplus, amounting to PLN 3.5bn. Income from exports of services stood at PLN 13.0bn, representing an increase of PLN 1.0bn (i.e. 8.1%) on the March 2015 figure. Debits stood at PLN 9.5bn, having increased by PLN 0.4bn (or 5.0%) on the corresponding period of the previous year.

The balance of primary income was negative at PLN 4.0bn. In the corresponding month of 2015, this balance was positive and stood at PLN 0.1bn. The deficit in the primary income account was predominantly driven by the negative balance of investment income (of PLN 5.8bn).

See: Balance of payments statistics

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