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Poland’s balance of payments in May 2020

Date: 2020-07-14

NBP data: In May 2020, the current account of the balance of payments posted surpluses in the services account (PLN 6.9bn) and the trade in goods account (PLN 5.7bn) and a deficit in the secondary income account (PLN 1.0bn) and the primary income account (PLN 0.5bn). The balance of the combined current and capital accounts was positive at PLN 15.0bn.

Preliminary data on Poland’s balance of payments in May 2020, released on 14 July 2020, show a surplus of PLN 11.1bn on the country’s current account. In the corresponding month of 2019, the balance was negative and stood at PLN 1.0bn.

Exports of goods amounted to PLN 71.1bn and were PLN 13.0bn (i.e. 15.5%) lower than in the corresponding month of 2019. Imports of goods decreased by PLN 19.8bn (i.e. 23.2%) and amounted to PLN 65.4bn. Trade in goods showed a surplus of PLN 5.7bn.

Exports of services stood at PLN 15.5bn, representing a decline of PLN 7.6bn (33.1%) on the May 2019 figure. Imports of services amounted to PLN 8.6bn, having decreased by PLN 5.5bn or 39.1%.

The balance of the primary income account was negative at PLN 0.5bn. Foreign direct investors’ income on their equity investments in Polish entities amounted to merely PLN 2.1bn. The negative primary income account was also determined by the balance of portfolio investment income, which was negative at PLN 0.5bn and the positive balance of interest on other debt instruments shown in other investments in the amount of PLN 0.2bn.

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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