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Poland’s balance of payments in January 2017.

Date: 16-03-2017

NBP Data: In January 2017, the current account of the balance of payments (BoP) posted a surplus in the services account (PLN 5.4bn), in the primary income account (PLN 3.5bn), in the trade in goods account (PLN 1.0bn) and in the secondary income account (PLN 0.9bn). The balance of the combined current and capital accounts was positive and amounted to PLN 11.2bn.

Preliminary data on Poland’s BoP for January 2017, released by Narodowy Bank Polski on 16 March 2017, show a surplus of PLN 10.7bn on the current account. In the corresponding month of 2016, the balance on the current account was also positive and stood at PLN 3.0bn.

Exports of goods amounted to PLN 65.5bn and were PLN 7.7bn higher (13.2%) than a year earlier. Imports of goods rose by PLN 8.6bn (15.4%) to PLN 64.5bn. As a result, the balance of trade in goods was positive and amounted to PLN 1.0bn. In January 2016 it was also positive at PLN 1.9bn.

Typically, the services balance was positive – it amounted to PLN 5.4bn. Credits on exports of services stood at PLN 15.1bn and represented an increase of PLN 1.3bn (9.5%) on the January 2016 figure. Debits stood at PLN 9.7bn, having grown by PLN 0.5bn (5.3%) on the corresponding month of 2016.

The primary income balance was positive and amounted to PLN 3.5bn. In the corresponding month of 2016, it was negative and stood at PLN 4.0bn. The positive primary income balance resulted primarily from the inflow of funds from the European Union received under the Common Agricultural Policy (PLN (9.7bn).

See: Balance of payments statistics

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