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Poland’s balance of payments in April 2020

Date: 2020-06-15

NBP data: In April 2020, the current account of the balance of payments posted surpluses in the services account (PLN 5.7bn) and the secondary income account (PLN 0.1bn) and a deficit in the primary income account (PLN 0.4bn) and the trade in goods account (PLN 0.2bn). The balance of the combined current and capital accounts was positive at PLN 13.6bn.

Preliminary data on Poland’s balance of payments in April 2020, released on 15 June 2020, show a surplus of PLN 5.3bn on the country’s current account. In the corresponding month of 2019, the balance was negative and stood at PLN 0.7bn.

Exports of goods amounted to PLN 62.6bn and were PLN 20.8bn (i.e.24.9%) lower than in the corresponding month of 2019. Imports of goods decreased by PLN 19.7bn (i.e. 23.9%) and amounted to PLN 62.8bn. The trade in goods showed a deficit of PLN 0.2bn.

Exports of services stood at PLN 13.8bn, representing a decline of PLN 8.1bn (i.e. 37%) on the April 2019 figure. Imports of services amounted to PLN 8.1bn, having decreased by PLN 5.5bn or 40.5%.

The balance of the primary income account was negative at PLN 0.4bn. Foreign direct investors’ income due to their equity investments in Polish entities amounted to merely PLN 0.8bn. The negative primary income account was also determined by the balance of portfolio investment income, which was negative at PLN 0.6bn, and a positive balance of interest on other debt instruments shown in other investments in the amount of PLN 0.5bn.

See: Balance of payments statistics

NBP interest rates

Reference rate 0.10
Lombard rate 0.50
Deposit rate 0.00
Rediscount rate 0.11
Discount rate 0.12

Exchange rates

Table of 2020-10-28
1 EUR4.6189
1 USD3.9313
1 CHF4.3113
1 GBP5.0998
100 JPY3.7724

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Narodowy Bank Polski
Świętokrzyska 11/21
00-919 Warszawa
Poland

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