Poland’s balance of payments in April 2021

NBP data: NBP data: In April 2021, the current account of the balance of payments posted surpluses in the trade in goods account (PLN 5.9bn) and the services account (PLN 9.6bn), while the primary and secondary income accounts were in deficit (of PLN 7.4bn and PLN 0.2 billion, respectively).

Preliminary data on Poland’s balance of payments in April 2021, released by NBP on 14 June 2021, show a surplus of PLN 8.0bn on the country’s current account. In the corresponding month of 2020, the balance was also positive and stood at PLN 3.3 billion.

Exports of goods amounted to PLN 106.8bn and were PLN 44.0bn (i.e. 70.0%) higher than in the corresponding month of 2020. This follows the low reference level from April 2020, when the value of trade declined markedly under the impact of the restrictions imposed to contain the spread of the COVID-19 pandemic. Imports of goods increased by PLN 38.0bn (i.e. 60.5%) to PLN 100.9bn. Trade in goods showed a surplus of PLN 5.9 billion.

Exports of services stood at PLN 22.0bn, representing an increase of PLN 3.8bn (i.e. 20.9%) on the April 2020 figure. Imports of services amounted to PLN 12.4bn, having increased by PLN 1.7bn (i.e. 15.8%) on the April 2020 figure.

The balance of the primary income was negative at PLN 7.4bn. The negative balance was primarily determined by foreign direct investors’ income on their equity investments in Polish entities, which amounted to PLN 7.9bn. The negative primary income account was also affected by the payment of income on portfolio investment (PLN 0.7bn) and on other investment (PLN 0.4 billion).