Exports of goods from Poland increased by 19.37 percent y/y to €21.77 billion in August 2021, while imports increased by 32.9 percent y/y to €23.19 billion, according to data presented by the National Bank of Poland (NBP).
The balance of trade in goods was negative and amounted to €1.41 billion against €761 million of the negative balance a month earlier.
"In August 2021, the estimated value of exports of goods amounted to PLN 99.5 billion, and imports to PLN 106.0 billion. Two working days more than in August last year had a major impact on the high dynamics of trade in goods in August 2021. From May this year, a faster increase in the value of imports than exports is observed," the central bank commented.
"In August 2021, a deficit of PLN 6.5 billion was recorded for the second time this year. This means that the balance of trade in goods deteriorated by PLN 9.9 billion over the year. The deterioration of this balance was mainly caused by an increase in imports fuels and raw materials resulting from the increase in their prices," it was also reported.