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Poland’s balance of payments in September 2017

Date: 13.11.2017

NBP data: In September 2017, the current account of the balance of payments (BoP) posted a deficit in the primary income account (PLN 8.9bn) and the secondary income account (PLN 0.4bn), and a surplus in the trade in goods account (PLN 3.3bn) and the services account (PLN 5.6bn). The total balance of the current and capital account in the month under analysis was positive and amounted to PLN 0.6 billion.

Preliminary data on Poland’s BoP for September 2017, released by Narodowy Bank Polski on 13 November 2017, show a deficit on the current account amounting to PLN 0.4bn. In the corresponding month of 2016, it was also negative and stood at PLN 3.8 billion.

Exports of goods stood at PLN 73.5bn and were PLN 5.9bn higher (i.e. 8.8%) than a year earlier. Imports of goods rose by PLN 3.0bn (i.e. 4.4%) to PLN 70.2bn. As a result, the balance of trade in goods was positive and amounted to PLN 3.3bn. In the corresponding month of 2016, this balance was also positive and amounted to PLN 0.3 billion.

Typically, the services balance was positive – it amounted to PLN 5.6bn. Credits on the export of services were PLN 18.3bn, which represented an increase of PLN 1.4bn (i.e. 8.2%) as compared with the September 2016 figure. Debits stood at PLN 12.6bn, having increased by PLN 0.4bn (i.e. 3.6%) on the corresponding month of 2016.

The primary income account was negative and amounted to PLN 8.8bn. In the corresponding month of 2016, it was also negative and stood at PLN 8.1bn. The primary income account deficit was mainly the result of the negative investment account (PLN 8.2bn).

See: Balance of payments statistics

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