Current account deficit at €400 mln

Poland’s current account deficit amounted to €300 million in June 2014, the National Bank of Poland said in a data release on Wednesday. Exports amounted to €13.7 billion in June, 7.3 percent more than a year earlier. Imports grew by 9.6 percent to almost €13.4 billion. The resulting surplus on trade stood at €0.3 billion. There was also surplus on services, amounting to €0.5 billion. Revenue from all types of services grew by 5.2 percent year-on-year to almost €2.8 billion and spending on services grew by 7.6 percent y/y to almost €2.3 billion. The balance in EU payments and transfers was also positive and stood at €0.8 billion. The value of current transfers from EU funds stood at €0.1 billion and capital transfers amounted to €0.7 billion. At the same time, Poland paid €0.3 billion in membership fees and payments. There was however a deficit in revenues, amounting to almost €1.5 billion.