Development Ministry: declining global trade influenced slow export growth

In spite of gains in Polish exports y/y, a new report in the Polish press on Tuesday indicated that the Polish government claims exports would be much higher if not for an overall decrease in international trade in 2016 “The slowdown in global trade and the global economic downturn had a negative effect on the export of Polish products,” experts at the Ministry of Development said in a commentary on the latest GUS data. “Similarly, as in previous periods of 2016, downturn of the global economy and the slowdown in [worldwide] trade has had an impact on the results of Polish trade turnover after 10 months of 2016,” the release stated. According to GUS data, between January-October, Polish exports increased by 0.8 percent, while imports fell by 0.8 percent. According to the estimates, the weak performance of exports corresponded to declines in sales of metallurgical products (by 6.7 percent), and agricultural food products (by 0.4 percent).