Exports up by 8.6% in May; lower forecast for this year

Polish exports increased by 8.6 percent year-on-year and totaled €14.04 billion in May, according to the Export Credit Insurance Corporation (KUKE). It has lowered export growth forecasts for this year to 12.2 percent from 12.8 percent. Exports declined by 3.1 percent on a monthly basis, KUKE also reported in a press release. The value of exports denominated in the Polish currency amounted to PLN 57.312 billion in May, a decline of 1.8 percent m/m and rise of 6.1 percent y/y. KUKE predicts that exports will rise by 12.2 percent and will total €176.6 billion in 2015.