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Poland’s Balance of Payments in October 2016

Date: 14-12-2016

NBP Data: In October 2016, the current account of the balance of payments posted a deficit in the primary income account (PLN 6.1bn) and secondary income account (PLN 0.1bn) and a surplus in the balance of services (PLN 4.3bn) and trade in goods (PLN 0.1bn). The balance of the combined current and capital accounts was negative and amounted to PLN 1.7bn.

Preliminary data on Poland’s balance of payments for October 2016, released on 14 December 2016, show a deficit of PLN 1.7bn on the current account. In the corresponding month of 2015, the balance of the current account was also negative and amounted to PLN 0.7bn.

Exports of goods amounted to PLN 65.5bn and were PLN 1.1bn (1.7%) lower than a year earlier. October 2016 saw, for the first time since August 2014, a negative growth rate of exports of goods. Imports of goods rose by PLN 1.1bn (1.7%) to PLN 65.3bn. As a result, the balance of trade in goods was positive and amounted to PLN 0.1bn. In October 2015, it was positive at PLN 2.3bn.

Typically, the services balance was positive at PLN 4.3bn. Credits on exports of services were PLN 15.4 and represented a PLN 0.8bn (5.2%) increase on the October 2015 figure. Debits were PLN 11.0bn, having grown by PN 0.3bn (3%) compared with the corresponding month of 2015.

The primary income balance was negative and amounted to PLN 6.1bn. In the corresponding month of 2015, it was also negative at PLN 6.7bn. The balance deficit was primarily the result of a negative balance of investment income (PLN 6.1 bn).

See: Balance of payments statistics

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