Poland’s balance of payments in June 2025

NBP data: In June 2025, the current account of the balance of payments posted a surplus in the services account (PLN 15.9bn) and the trade in goods account (PLN 0.3bn), and deficits in the primary income account (PLN 12.0bn) and the secondary income account (PLN 1.4bn).

Preliminary data on Poland’s balance of payments in June 2025, released on 13 August 2025, show a surplus of PLN 2.8bn on the country’s current account. In the corresponding month of 2024, the current account balance was negative and stood at PLN 0.6bn.

According to preliminary data, in June 2025, exports of goods was higher than imports. The second consecutive month of growing exports reflected a gradual recovery in the major export markets. In June 2025, the value of exports grew 0.7% compared to June 2024, reaching PLN 119.5bn. On the other hand, imports decreased by 1.4% on the previous year, to PLN 119.2bn. The decline in imports was largely driven by falling oil prices.

Like in the preceding month, in June 2025 a significant rise was seen in the exports of clothing, toys, and pharmaceutical products, i.e. in transactions of mostly re-export nature. Data also point to a gradual recovery in the automotive industry: the exports of passenger cars, buses and tractor units picked up. Exports of agricultural products continued to follow an upward trend as well. However, exports of durable consumer goods maintained a clear downward trend.

The decline in imports in June was largely driven by a drop in oil prices. In June 2025, the average price of imported crude oil was the lowest since mid-2021, as a consequence of a simultaneous decrease in market prices and a depreciation of the US dollar. Imports were also adversely affected by the low activity in the Polish industry, which was reflected in the falling deliveries of supply goods. In addition, the rapid increase in imports of consumer goods seen in the previous months was halted in June 2025.

Income from exports of services amounted to PLN 42.3bn, having increased by PLN 1.5bn (or 3.7%) on the corresponding month of 2024. Expenditure amounted to PLN 26.4bn and had increased by PLN 1.7bn (or 6.7%) compared to June 2024.

The primary income balance was negative at PLN 12.0bn. It had improved by PLN 1.0bn compared to the corresponding period of 2024. The largest contributor to the improvement in the negative balance of primary income was the negative balance of foreign direct investment, which had risen from
PLN -14.5bn in 2024 to PLN -10.9bn in June 2025. This was affected by a decline (of PLN 3.7bn) in the income of foreign investors from portfolio investments in Polish entities, with virtually unchanged income of Polish direct investors. Foreign direct investors’ income amounted to PLN 12.4bn in June 2025 and declared dividends amounted to PLN 14.9bn.