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Poland’s Balance of payments in August 2016

Date: 14-10-2016

In August 2016, the current account of the balance of payments posted a surplus in the balance of services (PLN 3.3bn) and a deficit trade in goods (PLN 2.2bn), the secondary income account (PLN 5.2bn) and the primary income account (PLN 5.2bn). The balance of the combined current and capital accounts was negative and amounted to PLN 4.4bn.

Preliminary data on Poland’s balance of payments for August 2016 released by NBP on 14 October show a deficit of PLN 4.5bn on the current account. In the corresponding month of 2015, it was also negative and amounted to PLN 3bn.

Exports of goods amounted to PLN 59.1bn and were PLN 5.7bn (10.8%) higher than a year earlier. Imports of goods rose by PLN 7.2bn (13.2%) to PLN 61.3bn. As a result, the balance of trade in goods was negative and amounted to PLN 2.2bn. In August 2015, it was also negative at PLN 0.8bn.

Typically, the services balance was positive at PLN 3.3bn. Credits on exports of services were PLN 15.2bn and represented a PLN 0.9bn (6.4%) increase on the August 2015 figure. Debits amounted to PLN 11.9bn, having grown by PLN 0.5bn (4.3%) as compared with the corresponding month of 2015.

The primary income balance was negative at PLN 5.2bn. In the corresponding month of 2015, it was also negative and amounted to PLN 4.8bn. The negative primary income balance primarily resulted from the negative balance of investment income (PLN 6.9bn).

See: Balance of payments statistics

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