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HSBC: Poland’s foreign trade turnover to rise by 125% until 2025


2011-10-12



HSBC, the global financial services group, has published an optimistic assessment of the prospects for Poland’s foreign trade sector over the next 15 years. According to a forecast by Delta Economics commissioned by the bank and presented in HSBC Trade Connections, a new quarterly publication, Polish foreign trade turnover will more than double by the end of 2025 to reach $692bn (approx. €508bn), up by 125% compared with end-2010. The country's foreign trade volumes are expected to grow well ahead of global trade growth over this period, helped by its reliance on expanding sectors such as cars and car parts, data processing, and consumer electronics. For example, over the next five years Polish foreign trade turnover is projected to rise by an average of 8.3% per annum, compared with 2% for global trade.

China is expected to climb one notch to become Poland’s fourth-largest trading partner by 2025, on the back of a 167% increase in the value of trade between the two countries over the next 15 years. The share of Asian countries, including India, Korea, Vietnam, Thailand or Hong Kong, as well as the Middle East and South Africa, is forecast to increase, though Germany, Russia, Italy and France will remain the main partners.

See also the news item ‘Foreign trade deficit widens to €9.1bn in January-August’.



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