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Poland’s balance of payments in November 2020

Date: 2021-01-13

NBP data: In November 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 10.6bn), and a deficit in the primary income account (PLN 8.1bn) and the secondary income account (PLN 2.6bn).

Preliminary data on Poland’s balance of payments in November 2020, released on 13 January 2021, show a surplus of PLN 7.8bn on the country’s current account. In the corresponding month of 2019, the balance was also positive and stood at PLN 5.1bn.

Exports of goods stood at PLN 103.4bn and were PLN 13.6bn (i.e. 15.1%) higher than in the corresponding month of 2019. Imports of goods increased by PLN 9.2bn (i.e. 10.6%) to reach PLN 95.5bn. Trade in goods showed a surplus of PLN 7.9bn.

Exports of services stood at PLN 25.1bn, representing a decline of PLN 0.4bn (i.e. 1.7%) on the November 2019 figure. Imports of services amounted to PLN 14.5bn, having decreased by PLN 0.7bn (i.e. 4.4%).

The balance of the primary income was negative at PLN 8.1bn. Foreign direct investors’ income on their equity investments in Polish entities amounted to PLN 6.1bn. The negative primary income account was also determined by the balance of portfolio investment income, which was negative at PLN 0.6bn.

See also: balance of payments statistics

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