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Poland’s Balance of Payments in May 2016

Date: 14-07-2016

NBP data: In May 2016, the current account of the balance of payments posted a surplus in the services balance (PLN 4.5bn), the balance of trade in goods (PLN 0.6bn), and a deficit in the primary income account (PLN 2.5bn) and the secondary income account (PLN 0.4bn). The balance of the combined current and capital accounts was positive and amounted to PLN 2.1bn.

Preliminary data on Poland’s balance of payments for May 2016, released by Narodowy Bank Polski on 14 July 2016, show a surplus of PLN 2.2bn on the current account. In the corresponding month of 2015, the balance was negative and amounted to PLN 3.8bn.

Exports of goods stood at PLN 58.8bn and were PLN 2.0bn (i.e. 3.5%) higher than a year earlier. Imports of goods were up PLN 3.5bn (i.e. 6.3%) to PLN 58.3bn. As a result, the balance of trade in goods was positive and stood at PLN 0.6bn. In May 2015, it was positive and amounted to PLN 2.0bn.

Typically, the services balance was positive at PLN 4.5bn. Income from exports of services amounted to PLN 14.7bn and represented a PLN 0.7bn (4.7%) rise on the May 2015 figure. Debits were PLN 10.2bn, having increased by PLN 0.4bn (4.2%) compared with the corresponding month of 2015.

The primary income balance was negative at PLN 2.5bn. In the corresponding month of 2015, it was also negative and stood at PLN 3.5bn. The negative primary income balance was predominantly the result of the negative balance of investment income (PLN 4.4).

See: Balance of payments statistics

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