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Poland’s balance of payments in August 2020

Date: 2020-10-14

NBP data: In August 2020, the current account of the balance of payments posted surpluses in the trade in goods account (PLN 3.2bn), the services account (PLN 7.1bn) and the secondary income account (PLN 0.3bn), and a deficit in the primary income account (PLN 6.5bn).

Preliminary data on Poland’s balance of payments in August 2020, released by NBP on 14 October 2020, show a surplus of PLN 4.2bn on the country’s current account. In the corresponding month of 2019, the balance was negative and stood at PLN 2.9bn.

Exports of goods amounted to PLN 78.0bn and were PLN 1.6bn (i.e. 2.1%) higher than in the corresponding month of 2019. Imports of goods decreased by PLN 3.0bn (i.e. 3.9%) to reach PLN 74.8bn. Trade in goods showed a surplus of PLN 3.2bn.

Exports of services stood at PLN 20.0bn, representing a decline of PLN 2.1bn (i.e. 9.6%) on the August 2019 figure. Imports of services amounted to PLN 12.9bn, having decreased by PLN 1.7bn (i.e. 11.8%).

The balance of the primary income account was negative at PLN 6.5bn. Foreign direct investors’ income on their equity investments in Polish entities amounted to PLN 6.3bn. The negative primary income account was also determined by the balance of portfolio investment income, which was negative at PLN 0.6bn.

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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