According to data presented by the Central Statistical Office, the value of Polish exports in the first three quarters of 2017 reached EUR 149.63 billion — an increase of 9.8% compared to the same period in 2016.
The main export destination remains EU countries, to which products worth EUR 118.93 billion were sent between January and September. Compared to 2016, this figure increased year-on-year by more than 9%.
The largest recipients of Polish goods were Germany, the Czech Republic, the United Kingdom, France, Italy, the Netherlands, Russia, Sweden, the United States and Hungary. Products worth EUR 40.98 billion were sent to Germany. Exports to the Czech Republic amounted to EUR 9.54 billion, while the United Kingdom purchased goods worth EUR 9.48 billion. The most popular product categories included machinery and transport equipment, manufactured goods, agri-food products, and chemicals and related products. Export dynamics to Central and Eastern European countries, which purchased Polish products worth EUR 8.89 billion, remain consistently high.
The largest growth in sales during the analysed period was recorded in trade with the United States and Russia. It is worth highlighting the improved economic relations with the Russian Federation, despite the continued political tensions. According to estimates by the Export Credit Insurance Corporation KUKE, better export results than those recorded last year can be expected by the end of the current year, with the projected value forecast to be more than one tenth higher.
“It is anticipated that in 2018 the value of exports could be even higher, reaching over EUR 212 billion, provided that recipient diversification is increased. Growth opportunities for exports are seen primarily in trade relations with countries outside the European Union — particularly with our eastern neighbours — Scandinavian countries, as well as Iran, India, Kenya and South Africa.
Venturing beyond Europe could prove to be a saving grace for Polish exports, especially as the EU market is becoming increasingly saturated,” says Wojciech Szubert of Gran Holding. “Intensifying activities outside the Union could bring even greater benefits, as any potential local political or economic turbulence would not pose a problem, unlike in the case of concentrated activity on just a few markets.”
