According to GUS, Poland's central statistic office, in the first two months of this year, the value of exports was €25.3 billion, up by 3.5% compared to the same period last year, while imports increased only by 1.8%, reaching almost €25.3 billion.

The fact that exports are growing fasting than imports has a positive influence on the improving balance of trade. The deficit of €362m recorded in 2013 has been turned into surplus of €31m. After two months of 2014, exports grew faster to the developed markets (increasing by 6% to €21.3 billion) than to the emerging and less developed markets (a decrease of 8.2% to €4 billion). Polish exports of goods to the major EU countries rose by 5.2%. The fastest growth was recorded by Finland (by 32.1%), Sweden (by 19.5%), Latvia (by 17%), Spain (by 12.8 %), Belgium (by 12.6%), France (by 6.5%), Italy (by 5.7%), Germany (by 5.1%) and the Czech Republic (by 5%).

In January and February, sales to developed markets outside EU increased dynamically by 14.2% (total value of €1.9 billion). The significant increase was recorded by Norway (by 17.4%), Japan (by 18.8%) and South Africa (by 31%).

Exports to the CIS markets dropped by 3.9%, due to the decrease of exports to Russia by 4.9% and Ukraine by 13.8%. On the other hand, exports to Belarus increased by 15.3%. Export to other emerging markets fell by 12.3%. Only to United Arab Emirates (by 65.1%), India (by 31.3%) and Algeria (by 56.3%) did exports grew rapidly.

There is visible growth of exports in the dominant Polish trade sectors such as electromechanical products (by 6.3%) and agri-food products (by 5.1%). The decline was recorded in metallurgical products (by 2.9%) and minerals (6.3%). (CSO/Ministry of Economy)

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