Poland Current Account Gap Widens in April

Poland recorded a current account deficit of €1,558 million in April 2026, the largest since December, up from the revised €252 million in the same month a year ago. The goods shortfall widened to €1,995 million from € 1,529 million in April 2025, as imports rose faster than exports. At the same time, the primary income gap climbed to €2,951 million from €2,524 million; and the secondary income balance shifted to a deficit of €78 million from a surplus of €218 million. On the other hand, the services surplus amounted to €3,466 million, down slightly from €3,583 million in the same period last year.

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.