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Poland’s balance of payments in June 2021

Date: 2021-08-13

NBP data: In June 2021, the current account of the balance of payments posted surpluses on the trade in goods account (PLN 3.4bn) and the services account (PLN 9.2bn), while the primary and secondary income accounts were in deficit (of PLN 9.7bn and PLN 1.6bn, respectively).

Preliminary data on Poland’s balance of payments in June 2021, published on 13 August 2021, show a surplus of PLN 1.3bn on the country's current account. In the corresponding month of 2020, the balance was also positive and stood at PLN 14.8bn.

In June 2021, similarly as in May, a significant increase was recorded in exports and imports of goods. The estimated value of goods exports amounted to PLN 106.6bn, representing an increase of PLN 21.7bn (i.e. 25.5%) on June 2020. The value of goods imports rose by PLN 28.4bn (i.e. 38,0%) on June 2020, reaching PLN 103.2bn. These high growth rates resulted from both the low reference level in 2020 due to the COVID-19 restrictions then in place, and the robust recovery in the manufacturing sector in Europe.

Exports of services stood at PLN 21.6bn, representing an increase of PLN 1.4bn (i.e. 7.0%) on the June 2020 figure. Imports stood at PLN 12.5bn, having increased by PLN 1.3bn (i.e. 11.9%). Compared with the corresponding period of 2020, international travel receipts were seen to have increased by 20.2%. Foreign travel expenditures rose by 103.0%.

The primary income balance was negative and amounted to PLN 9.7bn. The negative balance was determined by foreign direct investors’ income on their equity investment in Polish entities, which amounted to PLN 7.7bn. This item comprised dividend payments (PLN 10.6bn), negative reinvested earnings (PLN 3.8bn), and interest on other debt instruments (PLN 0.9bn). The balance of primary income was also influenced by the payment of income on portfolio investment (PLN1.2bn) and on other investment (PLN 0.6bn).

See also: balance of payments statistics

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