Current account gap closes to 8.1% of GDP in April despite poor exports

The National Bank of Poland (NBP) has revealed the current account deficit dropped to $819 million in April from $1.3 billion the previous month. This reduction means the current account gap relative to gross domestic product (GDP) has dropped from 8.3% to 8.1%. Analysts on the financial markets have welcomed the news, but are warning against premature celebration given the less than impressive export figures. Imports also dropped in April, however they were higher by 2% than the corresponding period last year. (Prawo i Gospodarka, page 1) S.M.