Poland Posts Surprise Current Account Gap

2026-04-13 12:19 By Luisa Carvalho 1 min. read

Poland current account balance shifted to a shortfall of €990 million in February 2026 from a surplus of €247 million in the same month a year ago, missing expectations for a €399 million surplus.

The goods deficit increased to €1,025 million from €600 million in February 2025, with imports (3.3%) rising more than exports (1.9%).

Meanwhile, the primary income gap deteriorated to €2,505 million from €2,050 million, influenced by income from foreign direct investors arising from their capital involvement in Polish entities and income payments from portfolio and other investments.

At the same time, the secondary income deficit went up to €489 million from €160 million a year earlier, largely reflecting the negative contribution from the government sector balance.

Meanwhile, the services surplus fell slightly to €3,029 million from €3,057 million.



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Poland Posts Surprise Current Account Gap
Poland current account balance shifted to a shortfall of €990 million in February 2026 from a surplus of €247 million in the same month a year ago, missing expectations for a €399 million surplus. The goods deficit increased to €1,025 million from €600 million in February 2025, with imports (3.3%) rising more than exports (1.9%). Meanwhile, the primary income gap deteriorated to €2,505 million from €2,050 million, influenced by income from foreign direct investors arising from their capital involvement in Polish entities and income payments from portfolio and other investments. At the same time, the secondary income deficit went up to €489 million from €160 million a year earlier, largely reflecting the negative contribution from the government sector balance. Meanwhile, the services surplus fell slightly to €3,029 million from €3,057 million.
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Poland posted a current account gap of EUR 1698 million in December 2025, up from EUR 1427 million in the same month a year ago and larger than the expected EUR 1250 million shortfall. The goods deficit rose to EUR 2298 million from EUR 1993 million a year ago and the primary income gap increased to EUR 3114 million from EUR 3064 million. Meanwhile, the services surplus fell to EUR 3276 million from EUR 3333 million while the secondary income rose to EUR 438 million from EUR 297 million. For the full year of 2025, the country's current account reached EUR 6303 million, contrasting with a surplus of EUR 2591 million in the previous year.
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Poland Posts Unexpected Deficit in Current Account
Poland posted a current account gap of EUR 460 million in November 2025, up from EUR 281 million in the same month a year ago and against market estimates of a EUR 500 million surplus. The goods shortfall widened to EUR 1,087 million from EUR 930 million in November 2024, with exports and imports rising 2.7% and 3.1%, respectively. At the same time, the primary income deficit rose to EUR 2,069 million from EUR 1,891 million, reflecting a negative balance from direct investment income as well as payments on portfolio and other investments. More positively, the services surplus rose to EUR 2,906 million from EUR 2,863 million a year ago; while the secondary income gap shrank to EUR 0.21 billion from EUR 0.32 billion.
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