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Foreign trade deficit at €9.8bn in 2012


2013-02-12



Polish exports of goods were worth €141.9bn in 2012, while imports totalled €151.7bn, according to preliminary data from the Central Statistical Office (GUS). This translates into a nominal increase of 3.8% y-o-y and a decrease of 0.6% y-o-y, respectively. As a result, the country’s foreign trade deficit amounted to €9.8bn, compared with €15.9bn in 2011.

Poland’s trade balance with the countries of the European Union as well as with the wider category of developed countries, improved sharply over this period, showing surpluses of €21.1bn and €19.2bn, respectively. The deficit in trade with developing countries decreased slightly to €18.3bn, whereas the deficit with the countries of Southern and Eastern Europe showed a small increase to €10.7bn.

Of Poland’s main trading partners, by far the highest increases in exports were to Russia (up by 25.2%) and Ukraine (up by 21.5%). Exports to Great Britain rose by 8.5%, to Slovakia by 8.4%, to the Netherlands by 6.2%, and to the Czech Republic by 4.4%. Exports to Germany, Poland’s main trading partner accounting for just over a quarter of the country’s total exports of goods, were flat compared with 2011. At the same time, exports to France decreased by 1.2%, to Sweden by 3.7% and to Italy by 5.4%.

The biggest increase in imports was also with Russia (up by 17.7%), followed by the United States (up by 13.2%). Imports from South Korea went up by 3.6%, from China by 2.7% and from the Netherlands by 2%. Imports from the remaining top-ten countries were lower than in 2011. The smallest decrease was in imports from the Czech Republic (down by 2.5%), followed by Italy (down by 5.5%), France (down by 5.7%), Germany (down by 5.8%) and Great Britain (down by 8.1%).

Foreign trade in Poland (%, y-o-y), 2004-2012



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