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Financial News: Poland Current Account Deficit Widens In April

Poland Current Account Deficit Widens In April

06/13/2022 - 09:49:00 (RTTNews)

(RTTNews) - Poland's current account deficit widened in April due to the worsening in primary and secondary income, data from the National bank of Poland showed on Monday.

The current account deficit rose to EUR 3.92 billion in April from EUR 2.97 billion in March.

In the corresponding month last year, the current account balance showed a surplus of EUR 1.28 billion.

The visible trade deficit narrowed to EUR 2.46 billion in April from EUR 3.25 billion a month ago. Meanwhile, the services trade surplus grew from EUR 2.10 billion to EUR 2.23 billion.

The deficit in the primary income account widened notably to EUR 2.84 billion in April from EUR 1.52 billion in March. Similarly, the secondary income deficit increased from EUR 294 million to EUR 850 million.

The capital account surplus stood at EUR 143 million in April, down significantly from EUR 1.41 billion in the preceding month. On the other hand, the financial account balance turned to a shortfall of EUR 4.32 billion from a surplus of EUR 1.62 billion.

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