Central Bank of Poland reports PLN 2.0bn current account deficit in November 2025 as services surplus is offset by goods and income shortfalls

The Central Bank of Poland published preliminary balance of payments data showing a PLN 2.0bn current account deficit in November 2025, compared with a PLN 1.2bn deficit in November 2024. The services account remained in surplus, while the trade in goods, primary income and secondary income accounts were in deficit. The services balance posted a surplus of PLN 12.3bn, with exports of services at PLN 44.0bn (up 4.6% year on year) and imports at PLN 31.7bn (up 6.8%). The goods deficit was PLN 4.6bn as exports rose 0.4% year on year to PLN 126.6bn and imports increased 0.9% to PLN 131.2bn, alongside a broad-based slowdown in export growth across major categories and declines in most import categories, including supply goods and durable consumer goods. The primary income deficit was PLN 8.8bn, narrowing by PLN 0.6bn year on year, with foreign direct investors’ income at PLN 13.4bn and additional outflows from portfolio and other investment income of PLN 1.7bn and PLN 2.0bn; the secondary income account recorded a PLN 0.9bn deficit.