1:09 22 August 2019
German exports decline to translate into Poland – PIE
The decline in German exports will definitely impact Poland’s exports to Germany, Polish Economic Institute (PIE) stated. “The first signs are already visible in Poland. According to PIE’s calculations based on GUS data, the value of Polish exports to Germany dropped 12.3 percent (in PLN) in June compared to the corresponding period of last year,” PIE wrote in its weekly report. Germany’s GDP declined by 0.1 percent q/q in Q2 (and grew by 0.4 percent y/y). The weakening of the German economy is attributed to, among other thing, the decline in exports, which fell by 8 percent in June y/y. German exports outside the EU decreased by 10.7 percent y/y, particularly to China and Mexico, and to the US, as a “result of the escalation in the US-China trade war,” the analysts stated.
(PAP)
