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Balance of payments in August 2012

Date: 15-10-2012

NBP data: In August 2012 Poland's exports grew by 4.3% on the August 2011 figure, while imports decreased by 3%. The negative balance on the current account amounted to EUR 633 million, and was lower by over EUR 1 billion than a year before.

On 15 October 2012, the National Bank of Poland released preliminary data on Poland's balance of payments in August 2012. They indicate that exports stood at over EUR 12.0 billion (an increase of 4.3% y/y), and imports at EUR 12.1 billion (decrease by 3% y/y). As a result, the negative balance of trade in goods amounted to merely EUR 48 billion.

As against August 2011, exports of services rose by 13.4%, while their imports increased by 7.4%. The positive balance in this respect/on this account stood at EUR 538 million.

The negative balance of income was comparable to the previous year's figure (approx. EUR 1.5 billion). In consequence, the negative current account balance was much lower than a year before (EUR 633 million compared to almost EUR 1.7 billion in August 2011).

The balance of foreign investment in Poland was positive and stood at EUR 2.3 billion. Similarly, Polish investment abroad increased by almost EUR 0.5 billion.

- See: Balance of payments in August 2012

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