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Poland’s balance of payments in September 2018

Date: 13.11.2018

NBP data: In September 2018, the current account of the balance of payments (BoP) posted surpluses in the services account (PLN 7.3bn) and the secondary income account (PLN 1.2bn), and a deficit in the primary income account (PLN 8.9bn) and the trade in goods account (PLN 1.9bn). The balance of the combined current and capital accounts was negative and amounted to PLN 1.2 billion.

Preliminary data on Poland’s BoP for September 2018, released by Narodowy Bank Polski on 13 November 2018, show a deficit on the current account amounting to PLN 2.3bn. In the corresponding month of 2017, the balance [on the current account] was positive and stood at PLN 0.1bn.

Exports of goods stood at PLN 76.0bn and were PLN 0.7bn (i.e. 1.0%) higher than a year earlier. Imports of goods rose by PLN 4.5bn (6.2%) to PLN 78.0bn. As a result, the balance of trade in goods was negative at PLN 1.9bn. In September 2017 it was positive at PLN 1.8bn.

Typically, the services balance was positive – it amounted to PLN 7.3bn. Exports of services amounted to PLN 20.9bn, which represented an increase of PLN 1.7bn (8.6%) as compared with the September 2017 figure. Imports of services stood at PLN 13.5bn, having increased by PLN 0.7bn (5.1%) on the corresponding month of 2017.

The primary income account was negative and amounted to PLN 8.9bn, which represented a PLN 1.2bn increase in the deficit as compared with the corresponding month of 2017. The negative balance of primary income was the result of the negative investment income account (PLN 8.0 billion).

See: Balance of payments statistics

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