Poland Current Account Shortfall Shrinks in March

Poland posted a current account gap of €234 million in March 2026, smaller than the revised €1,091 million in the same month a year ago. The goods deficit narrowed to €497 million from €1,530 million in March 2025, with exports (+7.4%) rising faster than imports (+3.8%). At the same time, the secondary income shortfall shrank to €21 million from €356 million a year ago, while the primary income gap surged to €2,783 million from €2,248 million, influenced by income from foreign direct investors' capital investments in Polish entities. On the other hand, the services surplus went up to €3,067 million from €3,043 million, reflecting positive balances across all service categories, with transport and other services making the largest contributions.

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.

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.