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Poland’s Balance of Payments in June 2016

Date: 12-08-2016

NBP data: In June 2016, the current account of the balance of payments posted a surplus in the balance of services (PLN 3.6bn) and trade in goods (PLN 1.8bn), and a deficit in the primary income account (PLN 6.2bn) and secondary income account (PLN 0.1bn). The balance of the combined current and capital accounts was negative and amounted to PLN 0.9bn.

Preliminary data on Poland’s balance of payments for June 2016, released by NBP on 12 August 2016, show a deficit of PLN 0.9bn on the current account. In the corresponding month of 2015, the balance was also negative and amounted to PLN 4.0bn.

Exports of goods stood at PLN 67.0bn and were PLN 7.5bn (i.e. 12.6%) higher than a year earlier. Imports of goods went up by PLN 5.0bn (i.e. 8.3%) to PLN 65.2bn. As a result, the balance of trade in goods was positive and amounted to PLN 1.8bn. In June 2015, it was negative and stood at PLN 0.7bn.

Typically, the services balance was positive at PLN 3.6bn. Credits on exports of services amounted to PLN 14.4bn and represented an increase of PLN 0.5bn (i.e. 3.6%) on the June 2015 figure. Debits amounted to PLN 10.8bn, having risen by PLN 0.5bn (i.e. 5.0%) as compared with the corresponding month of 2015.

The primary income balance was negative at PLN 6.2bn. In the corresponding month of 2015, it was also negative and stood at PLN 6.7bn. The negative income balance was predominantly the result of the negative balance of investment income (PLN 7.7bn).

See: Balance of payments statistics

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