Exports to Germany not falling
23:21
Germany is Poland's most important trading partner – both in terms of exports and imports. Approximately 28-29 percent of Polish exports are directed to the western border, and over 20 percent of Polish imports come from Germany. This is due to, inter alia, because it is a large economy, very close geographically – and many investors do business between Poland and Germany. It is also an economy of which many Polish citizens are part – and they increase trade in Polish goods in Germany, for example by choosing goods of Polish origin in retail stores. It is relatively easy for Polish entrepreneurs to navigate the German economy because the mentality of the Germans is close and understandable to us. Poles can trade with them and get along. All these factors make Germany our most important partner. Very often, analysts meticulously check what is happening in the German economy – on this basis to forecast what will happen in the Polish economy.
"The German economy contracted quite seriously, well above 5 percent, and during this time Polish exports should be expected to decline at least three times more dynamically. Exports should drop by 15 percent, while last year Polish exports to Germany increased by 4 percent. It seems that there are some shifts in operations carried out by concerns between plants in Germany and Poland. Perhaps some operations are performed in Poland, moreover, the effect of shortening supply chains by large German companies is visible," Piotr Soroczyński, a chief economist of the Polish Chamber of Commerce, said.
