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Poland’s balance of payments in June 2018

Date: 13.08.2018

NBP data: In June 2018, the current account of the balance of payments (BoP) posted a surplus in the services account (PLN 7.3 billion) and the secondary income account (PLN 0.3 billion) and a deficit in the primary income account (PLN 6.8 billion) and trade in goods account (PLN 1.8 billion). The combined current and capital accounts balance was positive and amounted to PLN 2.1 billion.

Preliminary data on Poland’s BoP for June 2018, released by Narodowy Bank Polski on 13 August 2018, show a deficit of PLN 1.0bn on the current account. In the corresponding month of 2017, the balance was also negative and amounted to PLN 3.8bn.

Exports of goods stood at PLN 77.8bn and were PLN 8.0bn (i.e. 11.5%) higher than a year earlier. Imports of goods grew by PLN 9.0bn (i.e. 12.7%) to reach PLN 79.6 billion. As a result, the balance of trade in goods was negative and amounted to PLN 1.8bn. In June 2017, it was also negative and stood at PLN 0.8bn.

Typically, the services balance was positive – it amounted to PLN 7.3bn. Receipts from exports of services amounted to PLN 19.6bn and, compared with June 2017, increased by PLN 1.1bn (i.e. 6.0%). Expenditure on imports of services stood at PLN 12.4bn, having increased by PLN 0.7bn (i.e. 6.3%) on the corresponding month of 2017..

The primary income balance was negative and amounted to PLN 6.8bn, having increased by PLN 2.6bn on the corresponding month of 2017. The negative primary income account resulted mainly from a negative balance of investment income (PLN 7.5bn).

See: Balance of payments statistics

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