Current account deficit at €0.4 bln

Poland’s current account deficit amounted to €0.4 billion in October 2014, the National Bank of Poland said in a data release on Monday. In October 2013 the balance was also negative, at €0.1 billion. Exports amounted to €14.7 billion in October, 3.2 percent more than a year earlier. Imports grew by 3.4 percent to €14.6 billion. The resulting surplus on trade stood at €0.1 billion. There was a surplus on services, amounting to almost €0.6 billion. Revenue from all types of services fell by 5.3 percent year-on-year to €2.8 billion and spending on services fell by 3.7 percent y/y to €2.2 billion. At the same time, there was a deficit on primary revenues, amounting to €1.2 billion. It was mostly affected by a deficit on investment revenues, worth €1.3 billion.