PLN 18.2 bln negative balance of Poland's current account in IV
20:18
According to the NBP, in April 2022, the current account of the balance of payments recorded negative balances of trade in goods (PLN 11.5 billion), primary income (PLN 13.2 billion) and secondary income (PLN 3.9 billion), and a positive balance of services (PLN 10.4 billion).
According to NBP data, in April 2022, the value of merchandise exports amounted to PLN 123.4 billion, up by PLN 9.8 billion (i.e. 8.6 percent) from the same month in 2021. The value of imports of goods compared to April 2021 increased by PLN 26.8 billion (i.e. by 24.8 percent) and reached PLN 134.9 billion.
"Export dynamics are adversely affected by disruptions in international supply chains. In addition, a further deep decline in sales to Russia affected the lower dynamics of total exports. In April this year. Russia dropped to 23rd place among the most important partners in Polish exports (compared to 7th place in April 2021). On the other hand, the high import dynamics were mainly related to the further increase in fuel prices," the central bank said in a statement.
The NBP said that in April 2022 oil prices in Poland's imports exceeded PLN 400 per barrel for the first time and were 75 percent higher compared to the year before.
