Narodowy Bank Polski

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Exports higher than imports in August

Date: 11-10-2013

NBP data: August 2013 saw a further positive balance on the trade in goods. Positive balances were also recorded in services and current transfers. The negative balance on the current account stood at EUR 0.7bn.

Preliminary data on Poland’s balance of payment released by Narodowy Bank Polski on 11 October 2013 show Polish exports of goods to be 2.1% up in comparison to August 2012. Imports, in contrast, had dropped by 0.7%. The surplus of trade in goods amounted to EUR 264m. The surplus of services was higher (by EUR 515m). Service earnings amounted to more than EUR 2.8bn (an increase of 1.2% y/y), while payments posted approx. EUR 2.3bn (a decrease of 0.6% y/y). The surplus on transfer of funds with the European Union was slightly in excess of EUR 0.3bn. A deficit on the income account of more than EUR 1.7bn had a decisive impact on the current account balance, which was negative. The determining factor had been foreign direct investors' income on their capital involvement in Polish entities.

In August, the balance of foreign direct investment in Poland was positive and amounted to nearly EUR 0.2bn; yet the balance on foreign portfolio investment was negative by almost EUR 0.4bn.

See: Balance of payments in August 2013

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Narodowy Bank Polski
Świętokrzyska 11/21
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Poland

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