Poland's current account turns to deficit in July- NBP
September 12, 2013
Poland recorded a current account deficit of EUR 178 million in July contrary to economists' forecast of EUR 18.2 million surplus and versus the June surplus of EUR 574 million, according to central bank figures released Wednesday.
The goods trade account showed a surplus of EUR 293 million in July.
Exports of goods increased by 6.0% year on year to EUR 12.952 billion. The consensus forecast put export increase at 6.7%.
Imports increased by 0.4% y/y to EUR 12.659 billion. The analysts surveyed by PAP expected July imports to rise by 0.6%.
Poland sported a surplus on services of EUR 534 mln, a negative balance on income of EUR 1.373 bln and a positive balance of current transfers at EUR 368 mln.