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Poland’s balance of payments in July 2017

Date: 13.09.2017

NBP data: In July 2017, the current account of the balance of payments posted a deficit in the primary income account (PLN 8.2bn) and in the trade in goods account (PLN 2.3bn), a surplus in the services account (PLN 6.7bn) and a modest surplus in the secondary income account. The total balance of the current and capital account in the month under analysis was negative and amounted to PLN 0.9bn.

Preliminary data on Poland’s balance of payments for July 2017 released on 13 September 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 2.2bn.

Exports of goods were PLN 63.3bn and were PLN 3.9bn higher (i.e. 6.6%) than a year earlier. Imports of goods rose by PLN 5.1bn (i.e. 8.4%) to PLN 65.6bn. As a result, the balance of trade in goods was negative at PLN 2.3bn. In July 2016, the balance was also negative at PLN 1.2bn.

Typically, the services balance was positive and amounted to PLN 6.7bn. Credits on the export of services were PLN 19.0bn and, compared with the July 2016 figure, increased by PLN 1.7bn, or 10.1%. Debits stood at PLN 12.3bn and grew by PLN 0.7bn (i.e. 5.6%) compared with the corresponding month of 2016.

The primary income account was negative and amounted to PLN 8.2bn. In the corresponding month of 2016, it was also negative and stood at PLN 6.1bn. The primary income account deficit was mainly the result of the negative investment income balance (PLN 8.2bn).

See: Balance of payments statistics

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