The preliminary data on Poland's balance of payments for August 2025, published on Tuesday by the National Bank of Poland, show that the current account balance was negative and amounted to PLN 13.2 billion. In the corresponding month of 2024, the current account balance was also negative and amounted to PLN 8.7 billion.
Where did this result come from? In August 2025, a positive balance of services was recorded in the current account of the balance of payments (PLN 13.5 billion). However, negative balances in other main elements were twice as high. We are talking about trade in goods (-PLN 9.2 billion), primary income (-PLN 16.6 billion) and secondary income (-PLN 0.9 billion).
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“After three months of growth, the value of goods exports decreased by 2.1%. compared to the same month of 2024 and amounted to PLN 106.6 billion. The value of imports decreased by 1.8%. compared to the previous year and amounted to PLN 115.7 billion” – calculates the National Bank of Poland.
Balance of payments. NBP data on exports
He explains that the greatest impact on the decrease in exports in the analyzed period was a large drop in sales of some means of transport, primarily electric batteries. The downward trend also continued in the export of durable consumer goods. There was a slight decline in the export of supply goods.
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On the other hand the upward trend continued in the export of agricultural productsother consumer goods, mainly due to the re-export of clothing and investment goods, which was driven by a further increase in foreign sales of computer equipment.
Balance of payments. NBP data on imports
NBP indicates that, similarly to previous months, the largest decline occurred in fuel importswhich was caused by significantly lower oil prices than in 2024. In most other categories, there was a slight decrease in the value of imports compared to the previous year.
At the same time, a slight increase in imports was recorded in the category of means of transport, mainly due to higher imports of passenger cars. Again the value of imports of other consumer goods increased the most, including mainly clothing, footwear and video game consoles.
Balance of payments. Detailed NBP data
According to the National Bank of Poland, revenues from the export of services amounted to PLN 40.3 billion and compared to the same month of 2024 increased by PLN 0.7 billion (i.e. by 1.9%). The value of expenditures amounted to PLN 26.8 billion and increased by PLN 1.8 billion (i.e. 7.1%) compared to August 2024.
The balance of primary income was negative and amounted to PLN 16.6 billion. Compared to the same period in 2024, it increased by PLN 3.9 billion. The greatest impact on the deterioration of the negative balance of primary income had the negative balance of income from direct investments, which increased by PLN 0.9 billion. This was due to an increase in the income of foreign investors from direct investments in Polish entities (by PLN 0.6 billion), while the income of Polish direct investors decreased by PLN 0.3 billion.
The income of foreign direct investors in August 2025 amounted to PLN 12.6 billion. The amount of the primary income balance was also influenced by the payments of income from portfolio investments (PLN 5.5 billion) and other investments (PLN 1.7 billion).
