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Poland’s balance of payments in September 2015

Date: 13-11-2015

NBP Data: In September 2015, the current account of the balance of payments (BoP) posted a deficit in the primary income account (PLN 6.8 billion) and a surplus in the services account (PLN 2.2bn), the trade in goods account (PLN 0.4bn) and the secondary income account (PLN 0.2bn). The balance of the combined current and capital accounts was negative and amounted to PLN 3.7 billion.

Preliminary data on Poland’s BoP for September 2015, released by Narodowy Bank Polski on 13 November 2015, show a deficit on the current account amounting to PLN 4.0bn. In the corresponding month of 2014, the balance on the current account was also negative and stood at PLN 1.1bn.

Goods exports stood at PLN 63.5bn and were by PLN 2.9bn higher than a year earlier. Imports of goods increased by PLN 3.8bn (i.e. 6.5%) to PLN 63.1bn. As a result, the balance of trade in goods was positive and amounted to PLN 0.4bn, down PLN 0.9bn from the September 2014 figure.

Typically, the services account was positive – in September 2015 it amounted to PLN 2.2bn.Credits resulting from services exports were PLN 12.6bn, which represented an increase of 1.5% as compared with the September 2014 figure. Debits stood at PLN 10.4bn, having increased by PLN 0.4bn or 3.9% on the corresponding month of the previous year.

The primary income account was negative and amounted to PLN 6.8bn. In the corresponding month of 2014, it was also negative at PLN 5.7bn. The primary income account deficit was the result of a negative investment account (PLN 7.0bn), a negative balance of other primary income (PLN 0.1bn) and a positive balance of compensation of employees (PLN 0.3bn).

See: Balance of payments statistics (XLSX & PDF)

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