Poland’s balance of payments in November 2015
NBP data: In November 2015, the current account of the balance of payments posted a surplus in the trade in goods account (PLN 3.2bn), the services account (PLN 3.4bn) and the secondary income account (PLN 0.3bn) and a deficit in the primary income account (PLN 4.3bn). The balance of the combined current and capital accounts was positive and amounted to PLN 5.3bn.
Preliminary data on Poland’s balance of payments for November 2015, released by Narodowy Bank Polski on 13 January 2015, show a surplus on the current account amounting to PLN 2.6bn. In the corresponding month of 2014, the balance on the current account was also positive and stood at PLN 0.5bn.
Goods exports stood at PLN 65.9bn and were PLN 7.9bn (i.e. 13.7%) higher than a year earlier. Imports of goods increased by PLN 3.7bn (i.e. 6.3%) to PLN 62.7bn. As a result, the balance of trade in goods was positive, amounting to PLN 3.2bn, while in November 2014 it was negative and amounted to PLN 1.0bn.
Typically, the balance of services was positive – in November 2015 it amounted to PLN 3.4bn. Credits on the exports of services were PLN 15.0bn, which represented an increase of PLN 0.9bn (i.e. 6.0%) as compared with the November 2014 figure. Debits stood at PLN 11.6bn, having increased by PLN 0.8bn or 7.8% on the corresponding month of the previous year.
The primary income balance was negative and amounted to PLN 4.3bn. In the corresponding month of 2014, it was also negative at PLN 3.0bn. The primary income deficit was the result of a negative investment account (PLN 4.3bn), a negative balance of other primary income (PLN 0.1bn) and a positive balance of compensation of employees (PLN 0.1bn).
See: Balance of payments statistics (XLSX & PDF)