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Poland’s Balance of Payments in November 2016

Date: 13-01-2017

NBP Data: In November 2016, the current account of the balance of payments posted a surplus in the balance of services (PLN 4.3bn) and trade in goods (PLN 0.4bn), and a deficit in the primary income account (PLN 6.1bn) and secondary income account (PLN 0.5 bn). The balance of the combined current and capital accounts was positive and amounted to PLN 2.1bn.

Preliminary data on Poland’s balance of payments for November 2016, released by Narodowy Bank Polski on 13 January 2017, show a deficit of PLN 1.9bn on the current account. In the corresponding month of 2015, the balance of the current account was positive and amounted to PLN 0.1bn.

Exports of goods stood at PLN 69.9bn and were PLN 5.1bn (7.9%) higher than in the corresponding month of 2015. Imports of goods rose by PLN 6.2bn (i.e. 9.8%) to PLN 69.5bn. As a result, the balance of trade in goods was positive and amounted to PLN 0.4bn. In November 2016, it was also positive at PLN 1.5bn.

Typically, the services balance was positive at PLN 4.3bn. Credits on exports of services were PLN 17.6bn and represented a PLN 1.8bn (11.5%) increase on the November 2015 figure. Debits were PLN 13.3bn, having grown by PLN 1.4bn (11.8%) compared with the corresponding month of 2015.

The primary income balance was negative and amounted to PLN 6.1bn. The balance deficit was primarily the result of a negative balance of investment income (PLN 6.3bn). In the corresponding month of 2015, it was also negative at PLN 5.4bn.

See: Balance of payments statistics

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