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Poland’s balance of payments in January 2019

Date: 18.03.2019

NBP data: In January 2019, the current account of the balance of payments (BoP) posted a surplus in the services account (PLN 8.5bn), in the primary income account (PLN 1.2bn) and in the trade in goods account (PLN 1.2bn) and a deficit in the secondary income account (PLN 1.0bn). The balance of the combined current and capital accounts was positive and amounted to PLN 12.0bn.

Preliminary data on Poland’s BoP for January 2019, released by Narodowy Bank Polski on 18 March 2019, show a surplus on the current account amounting to PLN 9.9bn. In the corresponding month of 2018, it was also positive and stood at PLN 9.5bn.

Exports of goods stood at PLN 79.4bn and were PLN 5.5bn higher (i.e. 7.4%) than in the corresponding month of 2018. Imports of goods rose by PLN 4.0bn (i.e. 5.4%) to PLN 78.2bn. As a result, the balance of trade in goods was positive at PLN 1.2bn. In January 2018, it was negative at PLN 0.2bn.

Typically, the services balance was positive, amounting to PLN 8.5bn. Exports of services were PLN 20.4bn, which represented an increase of PLN 2.2bn (i.e. 11.8%) as compared with the January 2018 figure. Imports of services stood at PLN 11.9bn, having increased by PLN 1.0bn (i.e. 9.7%) on the corresponding month of 2018.

The primary income account was positive and amounted to PLN 1.2bn, which represented a PLN 0.1bn increase compared with the corresponding month of 2018. The primary income account surplus was mainly the result of the inflow of funds from the European Union registered as other primary income.

See: Balance of payments statistics

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