Exports enjoy healthy increase

The new figures also underscore the key role of foreign investors, which accounted for 65% of total exports. The EU was the main export market, accounting for 77% of exports. In terms of specific industries, the key drivers of export growth were the automotive, furniture and consumer electronics sectors. At the same time, imports grew even faster, hitting 23.2% and slightly widening the current account deficit. Imports from Asian countries are growing the fastest, and it is with Asian countries that Poland has the biggest trade deficits. For example, Poland's imports from China are ten times its exports to the country. Imports from South Korea also grew by a staggering 82.7% last year. "This may be a result of major direct investment by Korean companies in the Polish electronics sector," says Maja Goettig, an economist at BPH Bank. "They import parts and equipment for their Polish plants." (Gazeta Wyborcza, p. 25) R.M.