GUS and NBP disagree on state on imports and exports

The Central Statistical Office (GUS) is warning that the export situation is deteriorating, as the value of goods sold abroad and cleared in Euros increased by only 0.1% over the January-February period in comparison to last year. According to GUS deputy director Janusz Witkowski, this is not good news as exports might no longer be able to support the economy. However, according to a similar report prepared by the National Bank of Poland (NBP), exports calculated in Euro over the same period, year-on-year increased by about 7%. The same discrepancy arose with regards to imports data, as according to GUS it jumped by 1.4% and according to NBP it dropped by about 2%. The reason for these differences is the method of calculation, as GUS uses data from custom offices, while the NBP is monitoring cash flows. (Parkiet, p. 7) M.M.