Poland’s balance of payments in April 2025

NBP data: In April 2025, the current account of the balance of payments posted a surplus in the services account (PLN 14.9bn) and a slight surplus in the secondary income account, and deficits in the trade in goods account (PLN 4.0bn) and in the primary income account (PLN 12.5bn).

Preliminary data on Poland’s balance of payments in April 2025, released on 13 June 2025, show a deficit of PLN 1.6bn in the country’s current account. In the corresponding month of 2024, the current account balance was positive and stood at PLN 4.0bn.

In April 2025, exports and imports growth remained low. According to preliminary data, the value of exports decreased by 3.2% on the corresponding month of 2024, to PLN 119.8bn. The value of goods imports increased by 2.7% on the previous year, reaching PLN 123.8bn. The rise in imports reflects a gradual recovery in the Polish economy. On the other hand, exports are negatively affected mainly by the deteriorating situation of the European automotive industry and increasing competition in the EU markets.

In April 2025, the value of exports declined in five out of six main categories. Declines in the value of supply goods and investment goods had the largest negative impact on exports growth. A relatively deep decline in foreign sales was also recorded by exporters of durable consumer goods.

Higher supplies of consumer goods, mainly semi-durable and non-durable consumer goods, made the largest contribution to imports growth in April 2025. Also imports of agricultural products were higher than in the corresponding month of 2024. On the other hand, imports of means of transport (mainly automotive parts and other vehicles, with the exception of passenger cars), supply goods and fuels were lower than in the previous year. The decline in the value of imports was due to a further decline in crude oil prices. In April 2025, prices of oil imported to Poland decreased by 11.0%.

Income from exports of services amounted to PLN 41.1bn and increased by PLN 1.7bn (i.e. 4.2%) compared to the corresponding month of 2024. Expenditure amounted to PLN 26.2bn and increased by PLN 1.9bn (i.e. by 7.7%) compared to April 2024.

The primary income balance was negative at PLN 12.5bn. It improved by PLN 1.1bn compared to the corresponding period of 2024. The decline in the income of foreign investors from portfolio investments in Polish entities (by PLN 1.5bn) was the largest contributor to the improvement of the negative balance of primary income. Direct investors’ income in April 2025 amounted to PLN 13.4bn.