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Poland’s balance of payments in May 2018

Date: 16.07.2018

NBP data: In May 2018, the current account of the balance of payments (BoP) posted a surplus in the services account (PLN 7.1 billion), the trade in goods account (PLN 0.4 billion) and the secondary income account (PLN 0.2 billion) and a deficit in the primary income account (PLN 7.6 billion). The combined current and capital accounts balance was positive and amounted to PLN 2.1 billion.

Preliminary data on Poland’s BoP for May 2018, released by Narodowy Bank Polski on 16 July 2018, show a surplus of PLN 0.2 billion on the current account. In the corresponding month of 2017, the balance was negative and amounted to PLN 0.9 billion.

Exports of goods stood at PLN 73.9bn and were PLN 3.3bn (i.e. 4.6%) higher than a year earlier. Imports of goods grew by PLN 2.5 billion (i.e. 3.6%) to PLN 73.4 billion. As a result, the balance of trade in goods was positive and amounted to PLN 0.4 billion. In May 2017, it was negative and stood at PLN 0.3bn.

Typically, the services balance was positive – it amounted to PLN 7.1bn. Receipts from exports of services were PLN 19.2bn and, compared with May 2017, increased by PLN 1.2bn (6.4%). Expenditure on imports of services stood at PLN 12.0bn, having increased by PLN 0.4bn (3.7%) on the corresponding month of 2017.

The primary income balance was negative and amounted to PLN 7.6bn, having increased by PLN 1.2bn on the corresponding month of 2017. The negative primary income account resulted mainly from a negative balance of investment income (PLN 7.3bn).

See: Balance of payments statistics

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