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Poland’s balance of payments in January 2020

Date: 2020-03-16

NBP data: In January 2020, the current account of the balance of payments posted surpluses in the services account (PLN 10.4bn), the trade in goods account (PLN 1.4bn) and the primary income account (PLN 0.4bn), and a deficit in the secondary income account (PLN 2.6bn). The balance of the combined current and capital accounts was positive at PLN 9.3bn.

Preliminary data on Poland’s balance of payments in January 2020, published by NBP on 16 March 2020, show a surplus of PLN 9.6bn on the country’s current account. In the corresponding month of 2019, the balance was also positive and stood at PLN 10.9bn.

Exports of goods amounted to PLN 81.9bn and were PLN 1.6bn (i.e. 2.0%) higher than in the corresponding month of 2019. Imports of goods increased by PLN 1.5bn (i.e. 1.9%) to PLN 80.5bn. Trade in goods showed a surplus of PLN 1.4bn.

Typically, the services account was in surplus, amounting to PLN 10.4bn. Exports of services stood at PLN 22.7bn, representing an increase of PLN 1.6bn (i.e. 7.5%) on the January 2019 figure. Imports of services amounted to PLN 12.3bn, having increased by PLN 0.6bn (i.e. 5.1%).

The balance of the primary income account was positive at PLN 0.4bn and deteriorated in relation to the corresponding month of 2019 by PLN 0.7bn. The balance of this account was determined by the receipt of EU funds under the Common Agricultural Policy, amounting to PLN 9.2bn.

See: Balance of payments statistics

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