Poland’s export growth continues to be one of the fastest in the European Union, according to Eurostat figures. Its 5.6 percent growth was the sixth-best result among all EU members and ranked second jointly with Denmark among member states who generated more than €50 billion worth in exports.
The Polish Ministry of Development, reporting on the Eurostat data, drew attention to the fact that Poland’s export growth was faster than that of the EU as a whole.
Over the first 10 months of the year, EU exports to the rest of the world grew by 3.8 percent with imports growing by 4.4 percent.
This meant that the EU’s balance of payment deficit rose to €28 billion compared with €18.6 billion for the equivalent period in 2018.
Exports to the US recorded the highest rate of growth (1.4 percent) but also grew by around 7 percent to Canada, Japan and Russia.
Sales to Turkey fell by almost 10 percent along with a fall in exports to South Korea (6 percent) and India (5 percent).
According to Eurostat figures, Ireland had the fastest rise in its exports at almost 11 percent with Luxembourg in second with 10 percent. Slovenia was third with almost 8 percent.
Three countries reported falls in exports: Cyprus (33 percent), Belgium (0.4 percent) and the UK (0.1 percent.)