Poland’s balance of payments in September 2025
NBP data: In September 2025, the current account of the balance of payments posted a surplus in the services account (PLN 14.1bn) and the secondary income account (PLN 2.3bn) and deficits in the primary income account (PLN 15.1bn) and the trade in goods account (PLN 4.4bn).
Preliminary data on Poland’s balance of payments in September 2025, released on 13 November 2025, show a deficit of PLN 3.1bn on the country’s current account. In the corresponding month of 2024, the current account balance was also negative and stood at PLN 3.5bn.
According to preliminary data, in September 2025, the turnover of the trade in goods returned to an upward trend, with the value of exports and imports reaching their highest levels since the beginning of the year. The value of goods exports increased by 5.3% on the September 2024 figure, reaching PLN 128.1bn. The value of imports increased by 6.8% on the previous year, to PLN 132.4bn.
In September, an increase in the value of exports was recorded in six categories. The largest increases were observed in the value of exports of agricultural products, other consumer goods and passenger cars. The upward trend in the latter two categories was largely supported by re-export. There was also a slight increase in the exports of durable consumer goods, mainly as a result of higher sales of household appliances.
Similarly to the exports, the imports of the most important categories also showed upward trends. The strongest increase was recorded in the imports of other consumer goods, armament and capital goods. Despite the continuing sharp decline in oil prices, the value of imported fuels also increased in September 2025, mainly on the back of the record deliveries of crude oil (2.7 million tonnes).
Exports of services stood at PLN 39.7bn, up by PLN 0.8bn (i.e. 2.0%) on the corresponding month of 2024. Imports of services stood at PLN 25.6bn, having increased by PLN 1.2bn (i.e. 5.1%) on the September 2024 figure.
The balance of the primary income account was negative at PLN 15.1bn. Compared to the corresponding period of 2024, it deteriorated by PLN 1.2bn. The largest contributor to the worsening of the negative balance of the primary income account was the negative balance of direct investment, down by PLN 1.3bn. This was affected by a rise (of PLN 0.9bn) in the income of foreign investors from direct investments in Polish entities, with the income of Polish direct investors down by PLN 0.4bn. Foreign direct investors’ income amounted to PLN 12.9bn in September 2025. The amount of the negative balance of primary income was also determined by the payment of income on portfolio investment (PLN 3.2bn) and other investment (PLN 2.3bn).