Current accounts deficit at $594 ml. in September, aided by increased exports

Poland's current account deficit in September was only $594 million, $400 million less than in August, and could dip as low as 7% of GDP by the end of this year. This improvement resulted from dynamic export growth reaching $2.43 billion in September, $160 million more than in August. At the same time imports fell by approximately $200 million, reaching $3.39 billion. According to Krzysztof Rybinski from ING Barings, the lowered deficit is caused by reduced imports and high level of unclassified current account. In this case the positive factor was a rise in so-called bazaar trading which increased from $350 million to $420 million in one month. However, specialists warn that this relatively encouraging figure was caused by the postponement of debt servicing to October, and this will most likely result in an increase in October's current accounts deficit. (Prawo i Gospodarka, p. 3)