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Poland’s balance of payments in October 2017

Date: 14.12.2017

NBP data: In October 2017, the current account of the balance of payments posted a surplus on the services account (of PLN 6.9bn) and trade in goods account (PLN 2.6bn), while the primary and secondary income accounts were in deficit (of PLN 6.5bn and PLN 0.5bn, respectively). The balance of the combined current and capital accounts was positive at PLN 5.0bn.

Preliminary data on Poland’s balance of payments in October 2017, released by NBP on 14 December 2017, show a surplus of PLN 2.5bn on the current account. In the corresponding month of 2016, the balance was negative and stood at PLN 0.1bn.

Exports of goods stood at PLN 76.4bn, and were PLN 9.6bn (14.3%) higher than a year earlier. Imports of goods increased by PLN 7.8bn (i.e.11.8%), to PLN 73.9bn. As a result, the balance of trade in goods was positive at PLN 2.6bn. In the corresponding month of 2016, this balance was also positive and stood at PLN 0.8bn.

Typically, the services account balance was in surplus – it amounted to PLN 6.9bn. Credits resulting from exports of services were PLN 19.8bn, representing an increase of PLN 2.9bn, i.e.17.5%. Debits stood at PLN 12.9bn, having increased by PLN 1.2bn (or 10.5%) on the corresponding month of 2016.

The balance of primary income was negative at PLN 6.5bn. In the corresponding month of 2016, the balance was also negative and stood at PLN 6.0bn. The deficit on the primary income account was mainly the result of the negative balance of investment income (of PLN 5.9bn).

See: Balance of payments statistics

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