Surge in Exports

On the Up

On the Up

The Central Statistical Office of Poland (GUS) had confirmed that the Polish economy has recorded a trade surplus of more than PLN one billion in the first quarter of 2014. Germany remains Poland’s main business partner. In the first quarter of 2014, the volume of exports amounted to over PLN 165 billion whereas the value of imports was PLN 168.3 billion. Compared to figures from the first quarter of 2013, the volume of exports has increased by 7.8% and the volume of imports by 3.6%. The trade surplus amounted to PLN 1.2 billion. During the same period last year, there was a trade deficit of approximately PLN 5 billion. The volume of sales to Germany has risen by 1% compared to the first quarter of the previous year and it amounted to 26.3% of the overall volume of exports. The volume of imports has also risen by about 0.4% and constitutes 21.6% of Polish import sales. The trade surplus recorded with Germany reached PLN 8 billion. In the first quarter of 2014, there were increases in exports to Spain, Sweden, Hungary, Germany, France, Italy, the Netherlands, the Czech Republic and Great Britain. The volume of exported goods to Russia has declined as is the volume of imported goods from Russia as well as the Netherlands, the Czech Republic and the US. Sales to Poland’s ten most important trading partners accounted for 65.8% of the overall value of exports whereas the value of imports accounted for about 67.2%. According to figures provided by GUS, the value of both exports and imports has risen compared to the same period in 2013. The value of exports has risen by 6.5% amounting to €152.78 billion and the value of imports by 0.7% amounting to €155.09 billion.
money.pl

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