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Poland’s balance of payments in February 2017.

Date: 13-04-2017

NBP Data: In February 2017, the current account of the balance of payments (BoP) posted a surplus in the services account (PLN 4.8bn) and a small surplus in the secondary income account, as well as a deficit in the trade in goods account (PLN 2.3bn) and in the primary income account (PLN 6.3bn). The balance of the combined current and capital accounts was negative and amounted to PLN 2.9 billion.

Preliminary data on Poland’s BoP for February 2017, released by Narodowy Bank Polski on 13 April 2017, show a deficit on the current account amounting to PLN 3.7bn. In the corresponding month of 2016, it was also negative and stood at PLN 2.9bn.

Exports of goods amounted to PLN 64.8bn and were PLN 1.1bn higher (1.8%) than a year earlier. Imports of goods rose by PLN 4.3bn (6.9%) to PLN 67.2bn. As a result, the balance of trade in goods was negative at minus PLN 2.3bn. In February 2016 it was positive at PLN 0.9bn.

Typically, the services balance was positive – it amounted to PLN 4.8bn. Credits on the export of services were PLN 14.8bn, which represented an increase of PLN 0.9bn (6.5%) as compared with the February 2016 figure. Debits stood at PLN 10.0bn, having increased by PLN 0.5bn (5.2%) on the corresponding month of 2016.

The primary income account was negative and amounted to PLN 6.3bn. In the corresponding month of 2016, it was also negative at PLN 6.4bn. The primary income account deficit was mainly the result of the negative investment account (PLN 6.6bn).

See: Balance of payments statistics

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