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June saw the current account surplus

Date: 12-08-2013

NBP data: In June 2013 the current account balance was positive and amounted to EUR 574 million - according to preliminary data on the balance of payments of Poland, released by the National Bank of Poland on August 12.

The value of the current account balance in June comprised: positive balance of current transfers (EUR 626 million), services (EUR 621 million) and trade in goods (EUR 561 million) and a negative balance of income (EUR 1.2 billion). In the corresponding month of 2012, the current account balance was negative and amounted to EUR 1.1 billion. The total balance of the current and capital account was positive and amounted to nearly EUR 1.2 billion.

In the discussed period, Polish exports (whose value was estimated at EUR 12.7 billion) was 7.1 percent higher than in June 2012, while imports (whose value was estimated at EUR 12.2 billion) went down by 0.7 percent. Trade balance was positive and amounted to EUR 561 million (as compared to the corresponding period last year, it went up by EUR 933 million).

Revenues from services amounted to EUR 2.5 billion in June, and, as compared to the corresponding month of 2012, decreased by 0.6 percent. The value of expenditures amounted to almost EUR 1.9 billion, down by 3.4 percent. June 2013 saw persistently negative balance of income which stood at EUR 1.2 billion.

In June, Poland received almost EUR 1.5 billion in transfers from the EU, while contributions paid by Poland amounted to EUR 323 billion. The balance of transfers from the EU was positive and stood at EUR 1.1 billion.

The negative balance of foreign investment in Poland amounted to EUR 584 million. As explained by NBP analysts, foreign investment was heavily affected by the inflow of capital from portfolio investment.

See: Balance of payments in June 2013

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