Poland's current account surplus rose to its highest since at least 1997 in March as buoyant exports coincided with an all-time high inflow of European Union agricultural funds, data showed on Friday. The balance of the current account, the broadest measure of Poland's trade with the rest of the world, climbed to a surplus of 1.94 billion euros, central bank data showed.
That was nearly double the 1.05 billion euros surplus consensus forecast of analysts polled by Reuters, and was the highest figure on central bank data going back as far as 1997. The central bank said in a statement that Poland saw a record inflow of euros due to the EU's common agricultural policy in March, which reached 1.7 billion euros. "Poland may continue to post current account surpluses, but they may narrow," mBank said in a note. "In general, Poland's economy is on the path to become externally balanced this year." Exports rose 13.7 percent year-on-year in March to 15.3 billion euros, while imports grew 9.8 percent to 14.7 billion, resulting in a surplus in goods trade of 0.7 billion euros.