Poland’s balance of payments in February 2021

NBP data: In February 2021, the current account of the balance of payments posted surpluses in the trade in goods account (PLN 4.0bn) and the services account (PLN 11.2bn), and deficits in the primary income account (PLN 5.5bn) and the secondary income account (PLN 2.4bn).

Preliminary data on Poland’s balance of payments in February 2021, released on 13 April 2021, show a surplus of PLN 7.3bn on the country’s current account. In the corresponding month of 2020, the balance was also positive and stood at PLN 7.4bn.

Exports of goods stood at PLN 95.9bn and were PLN 10.0bn (i.e. 11.7%) higher than in the corresponding month of 2020. Imports of goods increased by PLN 9.4bn (i.e. 11.4%) to reach PLN 91.1bn. Trade in goods showed a surplus of PLN 4.0bn.

Exports of services stood at PLN 23.2bn, representing a decline of PLN 0.7bn (i.e. 3.0%) on the February 2020 figure. Imports of services amounted to PLN 12.0bn, having decreased by PLN 0.8bn (i.e. 5.9%).

The balance of the primary income was negative at PLN 5.5bn. The negative primary income account was determined by foreign direct investors’ income on their equity investments in Polish entities, which amounted to PLN 6.6bn. The negative primary income account was also determined by the balance of portfolio investment income, which was negative at PLN 0.5bn, and the positive balance of other primary income amounting to PLN 2.8bn, where the inflow of funds from the European Union’s Common Agricultural Policy was registered.