Poland’s foreign trade surplus is growing

Poland continues to improve its export success story

editor: Grzegorz Adamczyk
author: businessinsider.com.pl

Poland has achieved a positive trade balance, with Statistics Poland (GUS) reporting a €4.1-billion surplus of exports over imports from January to April of this year.

This represents a significant improvement compared to the same period in 2022 when Poland recorded a negative balance of €7.1 billion during the same four-month period. The improvement is the result of a 7.3 percent increase in exports to €117 billion and a 2.3 percent decrease in imports to €112.9 billion.

Statistics Poland (GUS) also notes that the advantage of Polish exports to Germany over imports from that country is also growing. From January to April 2023, Poland sold goods worth €33 billion to its western neighbor, which is 7 percent more than in the corresponding period of 2022. In turn, Poland imported goods worth €22.4 billion, a decrease of 6.9 percent.

Interestingly, despite the increase in the value of exports to Germany, the share of Germany in the total sales of Polish goods abroad decreased by 0.1 percent to 28.2 percent.

The turnover with Poland’s top 10 trading partners accounted for 66.1 percent of exports compared to 65.2 percent in the corresponding period of 2022, and total imports accounted for 60 percent compared to 58.9 percent in January-April 2022.

During the period analyzed by GUS, the fastest-growing exports were oils, fats, and animal and vegetable waxes (39.4 percent), followed by beverages and tobacco (31 percent). Other products that saw good growth were food and live animals (21.4 percent); machinery and transport equipment (19.6 percent); mineral fuels, lubricants, and related materials (11.9 percent); and “miscellaneous manufactured articles” (7.1 percent).

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