Poland's Jan-Aug export turnover drops 8.3% YoY, imports drop 6.3% YoY

15 Oct '24

3 min read

Poland's Jan-Aug export turnover drops 8.3% YoY, imports drop 6.3% YoY

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Insights

Poland's export turnover between January and August at current prices was worth PLN 991.9 billion—a 8.3-per cent YoY drop, while its imports were worth PLN 981.2 billion—a 6.3-per cent YoY drop.
A trade deficit of PLN 232.2 billion ($58.2 billion) was recorded with developing nations in the period.
The trade surplus with developed countries was PLN 211.7 billion ($53.1 billion).

Poland’s export turnover in January-August this year at current prices was worth PLN 991.9 billion—a decrease of 8.3 per cent year on year (YoY), while its imports were worth PLN 981.2 billion—a YoY drop of 6.3 per cent, according to official data.

The trade surplus was PLN 10.7 billion during the eight months, while in the same period last year, it was PLN 34.6 billion.

The country’s exports expressed in US dollars amounted to $248.4 billion—a YoY decrease of 2.5 per cent, while imports amounted to $245.7 billion—a YoY drop of 0.4 per cent. The trade surplus was $2.7 billion, while in the same period last year, it was $8.1 billion.

Poland had the largest share in total exports with developed countries during the period—86.4 per cent, of which exports to the European Union (EU) comprised 73.9 per cent. In imports from developed countries, its share was 65.7 per cent, of which imports from the EU comprised 53.5 per cent.

However, the smallest trade share was observed with the countries of Central and Eastern Europe, exports to where comprised 5.2 per cent of its total exports. Imports from these nations comprised 2.1 per cent of the total imports.

A trade deficit of PLN 232.2 billion ($58.2 billion) was recorded with developing countries during the eight-month period, a release from Statistics Poland said.

The trade surplus with developed countries was PLN 211.7 billion ($53.1 billion), of which the surplus with EU countries was PLN 208.1 billion ($52.2 billion) and with Central and Eastern Europe PLN 31.1 billion ($7.8 billion).

Among the main trade partners of Poland in January-August this year, YoY decreases in exports were observed, except Ukraine, exports to where increased by 7.7 per cent, and the United States, exports to where rose by 0.4 per cent YoY.

As for imports during the period, the main trade partners reported YoY decreases, except the United States (an increase of 9.9 per cent YoY), Saudi Arabia (a 2.8-per cent YoY rise) and Norway (a 0.5-per cent YoY increase).

The export turnover with the top ten trade partners of Poland during the period accounted for 66.3 per cent of the total export turnover—the same as in the corresponding period of 2023, while the import turnover with these partners comprised 61.2 per cent of the total import turnover during the period (the figure was 60.5 per cent in January-August 2023).

Fibre2Fashion News Desk (DS)

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