Poland’s trade swings from €1.9bln deficit to €2bln surplus

Business has been going well in Poland with latest figures showing a trade surplus of €2.214 billion.

For the period January-August, imports were €114.387 billion, and exports €115.602 billion. A year ago – €1.921 billion deficit. That’s a 6.9% increase in exports, and a 3% increase in imports. Much of the increase is to developed countries.

Changing to Polish złoty, developing countries are down 70.453 bln, central and Eastern Europe, down 18.726 bln.

Developed countries are up 98.420 bln, including EU countries, 99.308 bln.

In percentage terms developed countries took 85.6% of exports, of which EU was 79.2%. Imports were 65.4% developed, of which the EU was 59%.

There is a mountain of statistics.

Which countries?

Germany

Exports up 1% to 27.1%.

Imports up 0.9% to 22.8%.

Trade surplus is 22.775 bln złoty.

Russia

Exports down 1.5% to 2.9%.

Imports down to 3.2% to 7.9%.

Trade deficit is 23.496 bln złoty.

The GUS report adds:

A decline in exports was observed with Russia, and a decline in imports, with Russia and Italy.

The top ten trade partners accounted for 66% of total exports and total imports, 66.2% (to respectively EUR 65.2 and 67.1% the year before).

Other countries

GUS (Główny Urząd Statystyczny) experts tell us in the last eight months Polish exports have increased to Holland, Spain, Italy, Great Britain, Czech Republic, Germany, Hungary, France and Sweden.

In turn, import increases have been reported for the USA, China, Germany, the Czech Republic, France, Britain, the Netherlands and Belgium.



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