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Poland’s balance of payments in May 2015

Date: 14-07-2015

NBP Data: May 2015 was another month of a surplus of trade in goods observed on the current account of the balance of payments. Also, the balances of services and secondary income accounts were positive, while the primary income account posted a deficit. The balance of the combined current and capital accounts was in surplus of PLN 8.3bn.

Preliminary data on Poland’s balance of payments in May 2015, published by NBP on 14 July 2015, show a surplus on the current account amounting to PLN 4.8bn. In the corresponding month of 2014 the balance was negative and stood at PLN 0.5bn.

Goods exports stood at PLN 57.6bn, i.e. PLN 3.8bn (7.1%) more than a year earlier. Imports of goods decreased by PLN 1.3bn (2.4%), down to PLN 53.8bn As a result, the balance of trade in goods was positive and amounted to PLN 3.8bn, having risen on May 2014 by PLN 5.1bn.

Typically, the service account was in surplus - in May amounting to PLN 3.3bn. Credits resulting from services exports stood at PLN 13bn, representing an increase of PLN 0.3bn (2.3%) on the May 2014 figure. The debits were standing at PLN 9.7bn, having increased by PLN 0.2bn (or 2.7%) on the corresponding period of the previous year.

The primary income account was in deficit of PLN 3.2bn, a level unchanged from the corresponding month of 2014. This balance of primary income was the result of a negative investment account balance (PLN 6.4bn), and surpluses on other primary income (PLN 2.7bn) and on compensation of employees (PLN 0.5bn).

See: Balance of payments statistics (XLSX & PDF)

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