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Poland’s balance of payments in August 2018

Date: 15.10.2018

NBP data: In August 2018, the current account of the balance of payments (BoP) posted a surplus in the services account (PLN 6.8bn) and a deficit in the primary income account (PLN 6.1bn), in the trade in goods account (PLN 1.4bn) and in the secondary income account (PLN 1.6bn). The balance of the combined current and capital accounts was close to zero.

Preliminary data on Poland’s BoP for August 2018, released by Narodowy Bank Polski on 15 October 2018, show a deficit on the current account amounting to PLN 2.4bn. In the corresponding month of 2017, the balance on the current account was positive and stood at PLN 1.1bn.

Exports of goods stood at PLN 73.7bn and were PLN 5.4bn higher (i.e. 7.9%) than a year earlier. Imports of goods rose by PLN 7.9bn (11.7%) to PLN 75.1bn. As a result, the balance of trade in goods was negative at minus PLN 1.4bn. In August 2017 it was positive at PLN 1.0bn.

Typically, the services balance was positive – it amounted to PLN 6.8bn. Exports of services amounted to PLN 20.6bn, which represented an increase of PLN 1.8bn (9.7%) as compared with the August 2017 figure. Imports of services stood at PLN 13.8bn, having increased by PLN 0.9bn (7.2%) on the corresponding month of 2017.

The primary income account was negative and amounted to PLN 6.1bn, and remained close to the level of the corresponding month of 2017. The primary income account deficit was the result of a negative investment account (PLN 7.3bn) and a positive balance of other primary income (PLN 1.9bn).

See: Balance of payments statistics

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