Poland’s balance of payments in January 2021

NBP data: In January 2021, the current account of the balance of payments posted surpluses in the trade in goods account (PLN 3.8bn), the services account (PLN 10.8bn) and the primary income account (PLN 2.6bn), and a deficit in the secondary income account (PLN 2.4bn).

Preliminary data on Poland’s balance of payments in January 2021, released on 16 March 2021, show a surplus of PLN 14.8bn on the country’s current account. In the corresponding month of 2020, the balance was also positive and stood at PLN 11.8bn.

Exports of goods stood at PLN 87.0bn and were PLN 3.2bn (i.e. 3.9%) higher than in the corresponding month of 2020. Imports of goods increased by PLN 1.0bn (i.e. 1.2%) to reach PLN 83.2bn. Trade in goods showed a surplus of PLN 3.8bn.

Exports of services stood at PLN 22.2bn, representing a decline of PLN 1.4bn (i.e. 6.0%) on the January 2020 figure. Imports of services amounted to PLN 11.4bn, having decreased by PLN 1.6bn (i.e. 12.3%).

The balance of the primary income was positive at PLN 2.6bn. Foreign direct investors’ income on their equity investments in Polish entities amounted to PLN 6.1bn. The positive primary income account was determined by the inflow of funds from the European Union’s Common Agricultural Policy registered as other primary income amounting to PLN 10.3bn.