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Balance of Payments in January 2013

Date: 14-03-2013

NBP data: According to preliminary data, in January 2013 Polish exports expressed in EUR posted a 7.3% rise on their previous year’s figure and exceeded the January imports. The negative balance on the current account amounted to over EUR 1.5 billion.

On March 14, the National Bank of Poland released preliminary data on Poland's balance of payments in January 2013. According to these data, the January exports of goods reached almost EUR 12.2bnand exceeded imports by EUR 5m. Exports in January 2013 were by 7.3% higher than in January 2012 whereas import growth stood at 1.1%.

The service account also showed a surplus of EUR 0.3bn, amidst deficit in the income account (in excess of EUR 1.5bn) and in the current transfer account, including the EU transfers account. In January 2013, Poland paid its EU membership fee in the amount exceeding EUR 0.5bn, whereas higher inflow of EU funds to Poland is expected in the coming months. The resulting current account deficit was in excess of EUR 1.5bn, albeit lower than in January 2012, when it stood at nearly EUR 2bn.

January 2013 saw an increase in foreign investment in Poland, including a growth of approx. PLN 1.2bnin foreign direct investment. Polish investment abroad edged up by over EUR 0.8 bn.

See: Balance of payments in January 2013

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