Export results hint recession has bottomed out and recovery could be in sight

There are signs appearing in the third quarter that a slow economic recovery is underway after the National Bank of Poland (NBP) announced positive results in foreign trade. On Thursday NBP released data that companies exported goods worth $2.87 billion abroad, which is almost 26% higher in comparison to the same period of 2001, while imports reached $3.7 billion, 19% higher than last year. The foreign trade deficit stood at $898 million. According to Grzegorz Wojtowicz from the Monetary Policy Council, September' s export data heralds optimistic signs and proves that Polish companies have established themselves well on foreign markets, as well as reinforce other economic indicators showing slight economic recovery in the third quarter. (Rzeczpospolita, p. B5) P.W.