PMR Online access    |   tel. +48 12 340 51 00    |   E-mail:


Current account balance at -€1bn in November


The current account balance amounted to -€1.03bn in November, according to preliminary data from the National Bank of Poland (NBP). The market had anticipated a substantially bigger deficit, in the region of €1.5bn.

In the corresponding period of 2010 the current account balance totaled -€2.7bn. The significant narrowing of the current account deficit reflects a sharp reduction of the trade deficit, which shrank by over 40% y-o-y to €749m, a dramatic reversal on the current transfers account, which showed a surplus of €290m compared with a deficit of €418m a year earlier, as well as a lower deficit on the income account (down by a fifth to -€952m) and a near-doubling of the surplus on the services account, albeit from a low base.

Cumulative data for the 12 months ending in November show a current account deficit of €15.73bn, down by 1.4% compared with the same period a year earlier. The fractional improvement of the annual balance was due to significantly higher surpluses on the services and current transfers accounts, which outweighed substantial increases in the deficits on the trade and income accounts.

In 2010 the current account deficit stood at €16.5bn (i.e. 4.6% of GDP) and was 35% higher than the year before.

Browse and search in our archive »

subscribe to PMR RSS NEWS channelsSubscribe to PMR RSS NEWS channels »

Free monthly e-letter containing latest news, analyses and business information on economic situation in Poland, Russia, Bulgaria, Czech Republic, Hungary, Romania, Slovakia, Ukraine, Kazakhstan.
Relevant news

Useful links         Privacy Policy
Copyright © 2018 PMR. All rights reserved.

PMR is a British-American company providing market information, advice and services to international businesses interested in Central and Eastern Europe as well as other emerging markets. PMR key areas of operation include business publications (through PMR Publications), consultancy (through PMR Consulting) and market research (through PMR Research). With over fourteen years of experience, high international standards in projects and publications, highly skilled multilingual staff and a wide network of co-operating research companies and market experts, PMR is one of the largest companies of its type in the region.