Poland’s current account surplus likely to have increased in May

Poland is expected to have recorded a higher current account surplus in May as compared to the April’s. According to a Societe Generale report, Poland’s current account surplus is likely to have risen by EUR 24 million to about EUR 838 million in May from April. Meanwhile, trade surplus is expected to have increased from April’s surplus of EUR 520 million to May’s EUR 630 million, noted Societe Generale.

Export and imports figures for May are likely to be lower partly because of a decline in manufacturing by 3.3 percent month-on-month. However, there is no major risk of a slowdown in export. Export order growth had accelerated 36 percent year-on-year in May.

Poland has received current transfers of EUR 685 million from EU funds in May. This is supportive of the current account surplus. The country is expected to record a primary income deficit of about EUR 927 million. It is also likely to register a services account surplus and a secondary income account surplus of EUR 1,081 million and EUR 55 million, respectively, said Societe Generale.