Narodowy Bank Polski

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June 2012 balance of payments

Date: 13-08-2012

NBP data: In June 2012, the negative current account balance amounted to around EUR 1.2 billion and was down by around EUR 0.8 billion on June 2011. Polish exports increased marginally and imports were down by 5.7% on the 2011 figure.

According to the preliminary balance of payments data published by the NBP on 13 August, in June 2012, exports amounted to over EUR 11.7 billion (increase by 0.5%, y/y) and imports stood at around EUR 12.1 billion (fall by 5/7%, y/y). A lower trade deficit in goods as compared to the previous year was accompanied by a positive balance of services. In June, credits on the sale of services abroad amounted to almost EUR 2.5 billion (increase by 3.2%, y/y) and debits – to EUR 1.9 billion (increase by 10.3%, y/y).

A negative balance of income was marginally down, amounting to EUR 1.4 billion, as compared to EUR 1.6 billion in the previous year. As a result, the negative current account balance amounted to over EUR 1.2 billion, as compared to EUR 2.0 billion in June 2011.

Moreover, the balance of EU transfers (around EUR 1.1 billion) was positive, as well as the balance of foreign investment in Poland (around EUR 3.7 billion). In the same period, there was an increase in Polish investment abroad (by over EUR 0.8% billion).

- See: Balance of payments in June 2011

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00-919 Warszawa

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