Poland's C/A surplus reaches highest-ever level of EUR 468mn in April

By bne IntelliNews June 17, 2013

Poland's current-account balance was - unexpectedly - positive in April and amounted to EUR 468mn vs. deficit of EUR 200mn a month earlier and a gap of EUR 655mn in April of 2012, according to the data of the National Bank of Poland (NBP). Market consensus was a gap of EUR 150-160mn. This was the highest ever C/A surplus in Poland; previously, a surplus was noted in February of 2009.

The central bank attributed the positive C/A figure to positive balance of current transfers (EUR 795mn), trade in goods (EUR 601mn) and services (EUR 545mn) as well as negative balance of income (EUR 1.473mn).

The central bank said that the surplus in the current account resulted mainly from the positive balance of trade in goods. Total balance of current and capital accounts was positive and amounted to EUR 492mn.

Poland's exports increased by 12.3% y/y to EUR 13,279mn in April of 2013, NBP also reported. Imports noted a growth of 3.6% to EUR 12,678mn. In the entire 2012, exports increased by 4.2%, while imports were up by 0.9%. This increase in exports has been influenced by increase in exports of food, transport equipment (goods for processing), clothing, pharmaceutical products and plastics, NBP explained.

Bank economists estimate the 12-month C/A gap at 2.7% of GDP in April of 2013 vs. 3.5% in 2012.

Related Articles

Central European banks eye south-eastern expansion

Banking merger and acquisition (M&A) activity in Central Europe is likely to be further limited by the upturn in the region’s economies, industry sources said in comments published on May 29. ... more

RBI doubles net profit y/y in Q1 as Russian business recovers

Raiffeisen Bank International (RBI), the second largest bank operating across Central and Eastern Europe by assets, reported that net profit almost doubled year-on-year to €220mn in the first ... more

Poland shrugs off EU bid to toughen rule of law probe

The EU’s General Affairs Council urged Poland on May 16 to talk with the European Commission about its alleged violations of the rule of law, as Brussels continued to hold back from imposing ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Dismiss