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Poland’s balance of payments in February 2020

Date: 2020-04-14

NBP data: In February 2020, the current account of the balance of payments posted surpluses in the services account (PLN 8.6bn) and the trade in goods account (PLN 2.2bn), and a deficit in the primary income account (PLN 7.5bn) and the secondary income account (PLN 0.5bn). The balance of the combined current and capital accounts was positive at PLN 6.5bn.

Preliminary data on Poland’s balance of payments in February 2020, published by NBP on 14 April 2020, show a surplus of PLN 2.8bn on the country’s current account. In the corresponding month of 2019, the balance was negative and stood at PLN 4.2bn.

Exports of goods amounted to PLN 83.3bn and were PLN 3.8bn (i.e. 4.8%) higher than in the corresponding month of 2019. Imports of goods decreased slightly and stood at PLN 81.0bn. Trade in goods showed a surplus of PLN 2.2bn.

Typically, the services account was in surplus, amounting to PLN 8.6bn. Exports of services stood at PLN 20.8bn, representing an increase of PLN 1.4bn (i.e. 7.5%) on the February 2019 figure. Imports of services amounted to PLN 12.2bn, having increased by PLN 0.8bn (i.e. 6.9%).

The balance of the primary income account was negative at PLN 7.5bn and stood at a similar level to the corresponding month of 2019. The balance of this account was determined by the balance of investment income, which was negative at PLN 8.0bn.

See: Balance of payments statistics

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