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A positive balance of trade in July

Date: 11-09-2013

NBP data: In July, the balance of payments saw a surplus of trade, services and current transfers. Current account deficit amounted to less than EUR 0.2bn.

According to preliminary data on Poland’s balance of payments in July 2013, released by NBP on 11 September 2013, Polish exports were estimated at approximately EUR 13.0bn, i.e. 6.0 per cent more than in July 2012, while imports increased by 0.4 per cent. A positive balance on goods, which amounted to approx. EUR 0.3bn, was accompanied by surpluses in the balances on current transfers (over EUR 0.4bn) and services (approx. EUR 0.5bn). The services account revenues exceeded EUR 2.7bn in July, which represented an increase of 1.6 per cent y/y, while the expenditures decreased by 0.3 per cent. The component that played a major role in the overall negative balance of current account (of less than EUR 0.2bn) was the deficit on income account (of nearly EUR 1.4bn).

In July, the balance of EU transfers to Poland exceeded EUR 2.5bn, while Poland’s EU membership contribution amounted to approximately EUR 0.3bn.

Foreign investment in Poland showed a surplus of over EUR 0.6bn, whereas the balance of foreign portfolio investment was negative and reached nearly EUR 0.2bn.

See: Balance of payments in July 2013

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