An increased demand for Polish goods and services was the main growth engine for Poland’s exports in April, according to a government think-tank expert.
The National Bank of Poland’s balance of payments data showed that Poland’s exports reached a record high value of PLN 123.4 billion (EUR 26.25 billion) in April.
Konrad Bochniarz, an economist with the Polish Economic Institute (PIE), said that most of Poland’s exports was shipped to Germany and the Czech Republic.
“The growth of Polish exports is mainly the effect of growing orders from developed countries; in this category, exports increased by 19%,” Bochniarz said.
“Machinery, devices and transport equipment are the growth engine of Polish exports,” he said, adding that this category constituted 36% of total shipments.
However, April’s results were also boosted by inflation, which surged to 12.4% in Poland in April, according to the expert, who said export figures might weaken in coming months.
“In the next months we expect a slowdown in industry and weaker export results,” he said. “The latest sales data from industrial companies are quite pessimistic. It’s an effect of a lower demand from EU countries.”
In April 2021, the value of Polish exports amounted to PLN 113.6 billion (EUR 24.7 billion). (The First News/Business World Magazine)