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Poland’s balance of payments in September 2016

Date: 14-11-2016

NBP Data: In September 2016, the current account of the balance of payments (BoP) posted a deficit in the primary income account (PLN 7.2 billion), the trade in goods account (PLN 0.9bn) and the secondary income account (PLN 0.6bn), and a surplus in the services account (PLN 4.4bn). The balance of the combined current and capital accounts was negative and amounted to PLN 4.3 billion.

Preliminary data on Poland’s BoP for September 2016, released by Narodowy Bank Polski on 14 November 2016, show a deficit on the current account amounting to PLN 4.3bn. In the corresponding month of 2015, the balance on the current account was also negative and stood at PLN 2.3bn.

Goods exports stood at PLN 66.2bn and were PLN 2.6bn higher (i.e. 4.1%) than a year earlier. Imports of goods rose by PLN 3.7bn (i.e. 5.8%) to PLN 67.1bn. As a result, the balance of trade in goods was negative at minus PLN 0.9bn. In September 2015 it was positive at PLN 0.2bn.

Typically, the services account was positive – it amounted to PLN 4.4bn. Credits on the export of services were PLN 15.1bn, which represented an increase of PLN 0.6bn (4.1%) as compared with the September 2015 figure. Debits stood at PLN 10.8bn, having increased by PLN 0.3bn (2.8%) on the corresponding month of 2015.

The primary income account was negative and amounted to PLN 7.2bn. In the corresponding month of 2015, it was also negative at PLN 7.0bn. The primary income account deficit was mainly the result of the negative investment account (PLN 8.3bn).

See: Balance of payments statistics

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