Current Account in Poland

Poland Current Account | Economic News & Forecasts

Poland - Current Account

The economy seemingly lost some steam in Q4 2019, following a notable slowdown in Q3 prompted by a lackluster industrial sector. Industrial activity weakened again in October-November, due to headwinds coming from the German economy, while diving business confidence throughout Q4 provides further clues of softening private-sector activity. The picture is more mixed when it comes to consumers, however. Somewhat softer but still healthy retail sales, solid wage growth and a tight labor market in the first two months of Q4 suggest household spending continued to support growth. Turning to 2020, a sizable minimum wage hike with effect from 1 January is set to benefit private consumption, although it risks hampering job creation. Meanwhile, at end-December, the government adopted a balanced 2020 budget, which, among other measures, includes a 10% excise tax hike on alcoholic drinks and tobacco, which could result in higher inflation.

Poland - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-1.3  -2.1  -0.6  -0.5  0.1  

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Poland Current Account Chart

Poland Current Account
Note: Current account balance as % of GDP.
Source: National Bank of Poland and FocusEconomics calculations.

Poland Facts

Bond Yield2.07-0.30 %Dec 31
Exchange Rate3.79-0.53 %Jan 01

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