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Poland’s balance of payments in March 2020

Date: 2020-05-14

NBP data: In March 2020, the current account of the balance of payments posted surpluses in the services account (PLN 8.0bn), the primary income account (PLN 2.9bn) and the secondary income account (PLN 0.2bn) and a deficit in the trade in goods account (PLN 0.3bn).The balance of the combined current and capital accounts was positive at PLN 17.8bn.

Preliminary data on Poland’s balance of payments in March 2020, published by NBP on 14 May 2020, show a surplus of PLN 10.8bn on the country’s current account. In the corresponding month of 2019, the balance was also positive and stood at PLN 0.8bn.

Exports of goods amounted to PLN 83.2bn and were PLN 4.0bn (i.e. 4.6%) lower than in the corresponding month of 2019. Imports of goods decreased and stood at PLN 83.5bn. Trade in goods showed a deficit of PLN 0.3bn.

Typically, the services account was in surplus, amounting to PLN 8.0bn. Exports of services stood at PLN 19.5bn, representing a decline of PLN 1.6bn (i.e. 7.8%) on the March 2019 figure. Imports of services amounted to PLN 11.5bn, having decreased by PLN 1.6bn (i.e. 12.0%).

The balance of the primary income account was positive at PLN 2.9bn. The balance of this account was largely determined by the balance of investment income, which was positive at PLN 3.0bn.

See: Balance of payments statistics

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Table of 2020-10-29
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