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Investment outlays up by 7.6% y-o-y in H1


In the first half of 2012 large and medium-sized companies employing 50 or more people reported investment outlays of just over PLN 41.5bn (approx. €9.8bn), which in real terms translates into an increase of 7.6% compared with the same period of 2011, according to the Central Statistical Office (GUS). By way of comparison, in Q1 investment outlays rose by 12.3% y-o-y.

Expenditures on machinery, technical equipment and tools – the largest category representing roughly 50% of the total – rose 6.5% y-o-y to almost PLN 20.3bn (€4.8bn). Outlays on buildings and structures – more than a third of the total – increased by 10.1% y-o-y to PLN 15.7bn (€3.7bn), while investments in transport equipment amounted to PLN 5.2bn (€1.2bn), up 4.4% y-o-y.

Of the main sectors of the economy (for which GUS reports dynamics in nominal terms), the largest increases in investment outlays occurred in mining-quarrying (up by 45.8% y-o-y), followed by accommodation and catering (up by 31.2% y-o-y), transportation and storage (up by 27.5% y-o-y), and trade and repair of motor vehicles (up by 18.7% y-o-y). In the manufacturing sector investments went up by 7.4% y-o-y in H1. On the other hand, in the construction industry investment outlays slumped by 18.3% y-o-y.

As for the country’s manufacturing sub-sectors, particularly strong increases were noted e.g. in the manufacture of other transport equipment (up by 67.8% y-o-y), electrical equipment (up by 61.8% y-o-y), or machinery and equipment not elsewhere classified (up by 42.3% y-o-y). Investments in the wearing apparel sector went up by 33.5% y-o-y, in furniture by 26.6% y-o-y, in rubber and plastic products by 26.2% y-o-y, in wood, cork, straw and wicker products by 24.8% y-o-y, in beverages by 22.3% y-o-y, in chemicals and chemical products by 18.3% y-o-y. By contrast, in the manufacture of coke and refined petroleum products investment outlays tumbled by 45.4% y-o-y, in paper and paper products they slumped by 26.6% y-o-y, in computer, electronic and optical products by 22.3% y-o-y, in leather and related products they were down by 16.8% y-o-y, and in basic metals by 10.1% y-o-y.

Investment outlays in Poland, by key sectors, H1 2012
Note: data from enterprises employing 50 or more people
* real change
** nominal change
GUS, 2012
Value (PLN bn)Y-o-y change
Industry 24.5 10.1%**
- mining and quarrying 3.2 45.8%**
- manufacturing 13.4 7.4%**
- electricity, gas, steam and air conditioning supply 6.3 1.6%**
- water supply; sewerage, waste management and remediation activities 1.7 15.7%**
Construction 1.1 -18.3%**
Trade; repair of motor vehicles 4.3 18.7%**
Transportation and storage 4.6 27.5%**
Accommodation and catering 0.4 31.2%**
Information and communication 2.6 7.0%**
Real estate activities 0.5 -18.3%**
Administrative and support service activities 2.4 -1.1%**

Investment outlays in manufacturing in Poland, by sub-sectors (y-o-y nominal change, %), H1 2012

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