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Balance of Payments in December 2012

Date: 12-02-2013

NBP data: Preliminary data show slower growth in Poland's external trade in December 2012. The negative balance on the current account amounted to EUR 1.2bn as compared with EUR 1.9bn in December 2011.

On 12 February, the National Bank of Poland released preliminary data on Poland's balance of payments in December 2012. According to the figures, goods exports were 0.2% down on the December 2011 level while imports had risen by 0.4%. The deficit on the trade account exceeded EUR 1.2bn.

Service earnings increased by 13.7% on the December 2011 figure, while payments grew by 13.5%. The surplus on the service account reached EUR 276m. The deficit on the income account had widened on the year ago and amounted to EUR 1.3bn. The resulting deficit on the current account stood at EUR 1.2bn, as against EUR 1.9bn in December 2011.

There was a decline in both foreign direct investment in Poland and Polish direct investment abroad. However, this was caused by one-off financial transactions by special-purpose entities and had no bearing on investors' real involvement.

See: Balance of payments in December 2012

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00-919 Warszawa

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