Narodowy Bank Polski

NBP Announcements

Poland’s external trade in October 2011

Date: 13-12-2011

NBP data: According to the information on the balance of payments in October 2011, exports rose by 3.7% as compared to October 2010.

Import growth was even weaker, posting an increase of 2.7%. The volume of the imports of goods (EUR 12,609 million) continued to exceed that of exports (EUR 11,957 million). Trade in services declined for a subsequent time. External revenues of Polish service providers declined by 7.7% as compared to October 2010, and the imports of services decreased by 19.7%. The balance of trade in services remained positive and reached EUR 401 million.

The negative income balance of EUR 1,242 million was affected, among others, by foreign investors’ income on their direct investments in Poland totalling EUR 815 million, of which dividends paid out to them in the amount of EUR 106 million, reinvested profits in the amount of EUR 564 million and interest on debt instruments in the amount of EUR 145 million.

The negative current account balance stood at EUR 1,622 million and was slightly lower than the year before.

The inflow of foreign direct investment to Poland resulted in a positive FDI balance of EUR 1,490 million. On the other hand, the balance of foreign portfolio investment was slightly negative. Foreign investors reduced their exposure to government securities issued for the domestic market by EUR 228 million.

The positive balance in the EU transfers account reached EUR 1 billion. In October 2011, Poland’s contribution to the EU budget amounted to EUR 285 million while the inflow of EU funds to Poland stood at EUR 1,285 million.

See: Balance of payments in October 2011

NBP interest rates

Reference rate 6.75
Lombard rate 7.25
Deposit rate 6.25
Rediscount rate 6.80
Discount rate 6.85

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00-919 Warszawa

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