Narodowy Bank Polski

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NBP data: Poland’s external trade in September 2011

Date: 15-11-2011

NBP data: Preliminary information on the balance of payments in September shows that,Poland’s exports continued to grow at a faster rate than imports while trade in services declined.

According to the preliminary monthly bop data published by the NBP on 15 November, exports stood at approximately EUR 12.2 billion in September and exceeded last year’s figure by 4.6%. Import growth continues to be weaker. As compared to the corresponding period last year, imports rose by 3.7%, to EUR 12.6 billion. Thus, the negative balance of trade in goods amounted to EUR 454 million.

The highest negative balance, exceeding EUR 1.5 billion, was recorded in the income account, particularly in investment income. On the other hand, a positive balance was recorded in the EU transfers account and services account, with a fall in income by 6.3% in services compared to September 2010, and a fall in expenditure by 9.7%.

As a result, the negative current account balance amounted to EUR 1.9 billion in September 2011 whereas a year ago it stood at slightly less than minus EUR 1.6 billion.

In the analysed period, the positive balance of foreign direct investment was slightly higher than the negative current account balance. It amounted to almost EUR 2.0 billion and was mainly driven by net inflow of capital against direct investment to Poland.

See: Balance of payments in June 2010

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