PMR Online access    |   tel. +48 12 340 51 00    |   E-mail:


Foreign trade deficit at €2bn in Q1


In January-March Poland’s exports of goods were worth €31bn while imports totalled €33bn, according to preliminary data from the Central Statistical Office (GUS). This translates into nominal increases of 15.5% y-o-y and 10.9% y-o-y, respectively. As a result, the country’s foreign trade deficit narrowed by 32% compared with a year earlier, and amounted to -€2bn.

Poland’s trade balance with the European Union, as well as with the wider category of developed countries, improved significantly over this period, showing surpluses of €5.1bn and €4.7bn, respectively. Meanwhile, the deficit in trade with developing countries rose slightly, to just over -€4.5bn, and the deficit with the countries of Southern and Eastern Europe increased quite substantially to exceed -€2.1bn.

Of Poland’s main trading partners, the highest increase occurred in exports to Russia (up by 32.8% y-o-y), followed by Sweden (up by 21.9% y-o-y) and the Netherlands (up by 19.3% y-o-y). Exports to Germany, the biggest recipient of Polish exports, went up by 16.2% y-o-y. By contrast, exports to Italy were up by 3.7% y-o-y.

Russia was also the country whose imports to Poland grew at the highest rate in Q1 (up by 31.1% y-o-y), followed by Great Britain with 25.3% y-o-y. Germany was the only other top ten importer to enjoy a double-digit increase in sales to Poland in January-March (up by 10.7% y-o-y). One country, Italy, saw its imports to Poland decline in Q1 (by 2%) compared with a year earlier.

We forecast that in 2011 as a whole Polish exports of goods will grow by 12.3% and imports by 13.8%. As a result, the foreign trade deficit will amount to €17.1bn, i.e. about 4.5% of GDP.

Browse and search in our archive »

subscribe to PMR RSS NEWS channelsSubscribe to PMR RSS NEWS channels »

Free monthly e-letter containing latest news, analyses and business information on economic situation in Poland, Russia, Bulgaria, Czech Republic, Hungary, Romania, Slovakia, Ukraine, Kazakhstan.
Relevant news

Useful links         Privacy Policy
Copyright © 2018 PMR. All rights reserved.

PMR is a British-American company providing market information, advice and services to international businesses interested in Central and Eastern Europe as well as other emerging markets. PMR key areas of operation include business publications (through PMR Publications), consultancy (through PMR Consulting) and market research (through PMR Research). With over fourteen years of experience, high international standards in projects and publications, highly skilled multilingual staff and a wide network of co-operating research companies and market experts, PMR is one of the largest companies of its type in the region.