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Poland’s balance of payments in July 2019

Date: 13.09.2019

NBP data: In July 2019, the current account of the balance of payments posted a surplus in the services account (PLN 8.5bn) and deficits on the primary income account (PLN 10.2bn), the secondary income account (PLN 0.1bn) and the trade in goods account (PLN 1.6bn). The balance of the combined current and capital accounts was positive at PLN 3.2bn.

Preliminary data on Poland’s balance of payments in July 2019, published by NBP on 13 September 2019, show a deficit of PLN 3.5bn on the country’s current account. In the corresponding month of 2018, the balance was also negative and stood at PLN 3.2bn.

Exports of goods amounted to PLN 82.0bn and were PLN 5.4bn (i.e. 7.1%) higher than in the corresponding month of 2018. Imports of goods increased by PLN 6.0bn (i.e. 7.7%) to reach PLN 83.6bn. The deficit in trade in goods amounted to PLN 1.6bn.

Typically, the services account was in surplus, amounting to PLN 8.5bn. Exports of services stood at PLN 23.7bn, representing an increase of PLN 1.7bn (i.e. 7.8%) on the July 2018 figure. Imports of services amounted to PLN 15.2bn, having increased by PLN 1.2bn (i.e. 8.5%) on the corresponding month of 2018.

The balance of the primary income account was negative at PLN 10.2bn and deteriorated in relation to the corresponding month of 2018 by PLN 0.8bn. The balance of this account was determined by the negative balance of investment income (of PLN 9.2bn).

See: Balance of payments statistics

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