National Bank of Poland : Poland’s Balance of Payments in November 2019

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Poland's balance of payments in November 2019

Date: 13.01.2020

NBP data: In November 2019, the current account of the balance of payments posted surpluses in the services account (PLN 10.0bn), in the trade in goods account (PLN 3.6bn) and in the secondary income account (PLN 0.2bn), and deficits in the primary income account (PLN 7.5bn). The balance of the combined current and capital accounts was positive at PLN 7.6bn.

Preliminary data on Poland's balance of payments in November 2019, published by NBP on 13 January 2020, show a surplus of PLN 6.2bn on the country's current account. In the corresponding month of 2018, the balance was also positive and stood at PLN 0.5bn.

Exports of goods amounted to PLN 86.7bn and were PLN 1.3bn (i.e. 1.4%) lower than in the corresponding month of 2018. Imports of goods decreased by PLN 4.4bn (i.e. 5.0%) to PLN 83.2bn. Trade in goods showed a surplus of PLN 3.6bn.

Typically, the services account was in surplus, amounting to PLN 10.0bn. Exports of services stood at PLN 25.9bn, representing an increase of PLN 1.9bn (i.e. 8.0%) on the November 2018 figure. Imports of services amounted to PLN 15.9bn, having increased by PLN 0.8bn (i.e. 5.4%).

The balance of the primary income account was negative at PLN 7.5bn and improved in relation to the corresponding month of 2018 by PLN 0.6bn. The balance of this account was determined by the negative balance of investment income (of PLN 6.0bn).

See: Balance of payments statistics