Economy
23:09 28 June 2021
Post by: WBJ

Competition in foreign markets to increase in coming months

Competition in foreign markets to increase in coming months
Janusz Władyczak, source: Newseria

Despite difficult conditions, Polish exporters emerged from the pandemic stronger, and last year Poland's share in world trade increased. The statistics for the first months of this year are also optimistic. Although the market conditions are returning, it will not be easier for Polish exporters in the coming months, because many countries plan to get out of the pandemic recession through exports. That is why Polish companies in the post-pandemic reality want to support KUKE by providing them with new tools that will allow them to expand more effectively and improve their competitiveness. The first Polish bank to offer entrepreneurs new instruments from KUKE's offer will be Santander, one of the leaders in financing transactions in international trade.

"Polish exporters did very well during the pandemic. The majority of them increased their turnover. And although global turnover dropped sharply last year, our exports remained at their 2019 levels, so it can be said that they remained unaffected by the pandemic. our economy is not dominated by the services sector, we have a lot of industry, whose exports grew during the pandemic. The good situation in Germany was also beneficial for us, which, like Poland, is a country focused on the production of goods. Germany, which was already high before, increased even more during the pandemic. Our exporters also found other markets for themselves, filled the gaps emerging in the markets," Janusz Władyczak, president of KUKE, said.

According to GUS data, in 2020 foreign trade turnover amounted to PLN 1,051.9 billion in exports and PLN 998.3 billion in imports. The positive balance was at the level of PLN 53.7 billion, while a year earlier it was only PLN 5.1 billion. Meanwhile, many countries plan to get out of the pandemic recession through exports, which means that competition in the markets will be fierce despite the recovery. KUKE wants to support Polish exporters with new solutions.

(Newseria


poland
kuke
gus
santander bank
exports
janusz władyczak

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