Poland’s June current account deficit far exceeds expectations, hitting a near one-year high

(1) Poland's current account recorded a deficit of €2.216 billion in June, marking the largest gap since August 2025. The previous value was revised to a deficit of €445 million, while market expectation was a deficit of €764 million.(2) The goods trade deficit expanded sharply from €133 million in June 2025 to €1.469 billion. Imports rose by 16.9%, while exports grew by 12.3%, with import growth significantly outpacing exports.(3) The primary income deficit increased from €3.998 billion to €4.444 billion, and the secondary income deficit rose from €153 million to €203 million. The services trade surplus inched up from €3.839 billion to €3.900 billion.