HSBC: Polish companies expect increase in foreign trade turnover

As many as 78 percent of Polish exporters and importers expect their trade turnover to increase in 2018, according to an international survey of companies by HSBC. This result places Polish entrepreneurs in the first place among companies from the European Union that took part in the survey. In global terms, Poland took the tenth place in terms of the level of optimism among companies conducting foreign trade. Larger optimists than Polish companies were companies from Bangladesh, India, Thailand, Vietnam, China, Malaysia, Mexico, Argentina, and Turkey. When asked about the reasons for their optimistic attitude, Polish exporters and importers most often indicated an increase in the demand for their goods and services among consumers and business customers (39 percent), falling transport and logistics costs (27 percent) and favorable economic situation (26 percent). A quarter of Polish respondents pointed to the growing use of technology. Asked to indicate the most promising directions of business development in the perspective of 3-5 years, Polish exporters and importers most often pointed to Germany (24 percent), the US (15 percent) and France (11 percent). “The great interest of Polish companies in the US market is not surprising due to its size, and, as mentioned by Polish medium-sized companies, which we asked about their prescription for international success under another research, pragmatic approach of local business customers to choose a supplier. Companies deliberately launch foreign expansion from the US market to avoid having to face stereotypes with which they collide in Europe and which translate into expectations for a lower price,” said Piotr Winnicki, a director at HSBC.