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Poland’s balance of payments in October 2020

Date: 2020-12-14

NBP data: In October 2020, the current account of the balance of payments posted surpluses in the trade in goods account (PLN 7.9bn) and the services account (PLN 9.2bn), and a deficit in the primary income account (PLN 6.4bn) and the secondary income account (PLN 0.5bn).

Preliminary data on Poland’s balance of payments in October 2020, released by NBP on 14 December 2020, show a surplus of PLN 10.2bn on the country’s current account. In the corresponding month of 2019, the balance was also positive and stood at PLN 1.0bn.

Exports of goods stood at PLN 104.3bn and were PLN 9.0bn (i.e. 9.5%) higher than in the corresponding month of 2019. Imports of goods increased by PLN 1.8bn (i.e. 1.9%) to reach PLN 96.4bn. Trade in goods showed a surplus of PLN 7.9bn.

Exports of services stood at PLN 23.5bn, representing a decline of PLN 1.3bn (i.e. 5.1%) on the October 2019 figure. Imports of services amounted to PLN 14.3bn, having decreased by PLN 1.1bn (i.e. 7.4%).

The balance of the primary income was negative at PLN 6.4bn. Foreign direct investors’ income on their equity investments in Polish entities amounted to PLN 5.7bn. The negative primary income account was also affected by the balance of portfolio investment income, which was negative at PLN 0.8 billion.

See also: balance of payments statistics

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