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Poland’s balance of payments in July 2021

Date: 2021-09-13

NBP data: In July 2021, the current account of the balance of payments posted deficits in the trade in goods account (PLN 3.3bn), the primary income account (PLN 11.3bn) and the secondary income account (PLN 0.5bn), and a surplus in the services account (PLN 6.7bn).

Preliminary data on Poland’s balance of payments in July 2021, published on 13 September 2021, show a deficit of PLN 8.3bn on the country's current account. In the corresponding month of 2020, the balance was positive and stood at PLN 2.9bn.

In July 2021, the value of goods exports amounted to PLN 102.0bn, representing an increase of PLN 14.4bn (i.e. 16.5%) as compared with the corresponding month of 2020. July, like June and May 2021, was characterised by a growth rate of goods imports higher than that of goods exports. The value of goods imports rose by PLN 21.1bn (i.e. 25.1%) on the July 2020 figure, reaching PLN 105.2bn. A faster increase in the value of imports than of exports led to a deficit in the trade in goods account amounting to PLN 3.3bn.

Exports of services stood at PLN 22.3bn, representing an increase of PLN 0.6bn (i.e. 2.9%) on the July 2020 figure. Imports stood at PLN 15.7bn, having increased by PLN 2.2bn (i.e. 16.0%) on the July 2020 figure.

The primary income balance was negative and amounted to PLN 11.3bn. The negative balance was primarily determined by foreign direct investors’ income on their equity investment in Polish entities, which amounted to PLN 9.5bn. The balance of primary income was also influenced by the payment of income on portfolio investment (PLN 1.5bn) and on other investment (PLN 0.4bn).

See also: balance of payments statistics

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