Poland’s balance of payments in December 2020

NBP data: In December 2020, the current account of the balance of payments posted surpluses in the trade in goods account (PLN 1.5bn) and the services account (PLN 8.1bn), and a deficit in the primary income account (PLN 6.4bn) and the secondary income account (PLN 1.2bn).

Preliminary data on Poland’s balance of payments in December 2020, released on 15 February 2021, show a surplus of PLN 1.9bn on the country’s current account. In the corresponding month of 2019, the balance was also positive and stood at PLN 0.3bn.

Exports of goods stood at PLN 88.7bn and were PLN 15.0bn (i.e. 20.3%) higher than in the corresponding month of 2019. Imports of goods increased by PLN 14.0bn (i.e. 19.1%) to reach PLN 87.2bn. Trade in goods showed a surplus of PLN 1.5bn.

Exports of services stood at PLN 21.1bn, representing a decline of PLN 0.1bn (i.e. 0.3%) on the December 2019 figure. Imports of services amounted to PLN 13.0bn, having decreased by PLN 1.6bn (i.e. 10.9%).

The balance of the primary income was negative at PLN 6.4bn. 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.