The Central Bank of Poland (NBP) published preliminary balance of payments data for December 2024 showing a current account deficit of PLN 3.4bn, compared with a deficit of PLN 0.4bn in December 2023. The current account recorded surpluses in services (PLN 15.5bn) and secondary income (PLN 0.6bn), offset by deficits in trade in goods (PLN 9.5bn) and primary income (PLN 9.9bn). Goods exports fell 1.7% year on year to PLN 105.5bn while imports rose 2.4% to PLN 115.1bn, with the export decline again driven mainly by lower foreign sales of means of transport, including automotive parts, passenger cars and delivery vehicles. Service exports increased 7.3% to PLN 42.3bn and service imports rose 8.1% to PLN 26.8bn. The primary income deficit improved by PLN 0.8bn year on year, largely reflecting a PLN 1.4bn improvement in direct investment; foreign direct investors’ income on equity investments in Polish entities totalled PLN 10.1bn, alongside income payments on portfolio investment of PLN 1.5bn and other investment of PLN 3.3bn.
Central Bank of Poland 2025-02-13
Central Bank of Poland releases December 2024 balance of payments showing PLN 3.4bn current account deficit
The Central Bank of Poland reported a current account deficit of PLN 3.4bn for December 2024, up from PLN 0.4bn in December 2023. The deficit was driven by trade in goods and primary income, despite surpluses in services and secondary income. Goods exports decreased by 1.7% to PLN 105.5bn, while imports increased by 2.4% to PLN 115.1bn, with the decline in exports mainly due to reduced sales of transport means.