July record exports put down to weak zloty and low domestic demand

The total value of exports in June reached an unexpected $3.17 billion according to the National Bank of Poland (NBP). This is the best result for years. Compared to June 2001, in zloty, exports rose by 24%, or 8% if calculated in euro. Polish companies are definitely expanding on foreign markets despite the poor economic situation in Germany and Italy, Poland's main commercial partners. The improvement in exports is due to weak domestic demand. Some analysts believe that foreign direct investment helped account for these good results. "Besides that, the sale of ships in June boosted the results, while the weaker zloty made export cheaper," said Katarzyna Z ajdel-Kurowska, an analyst with Bank Handlowy. (Rzeczpospolita, pp. A1, B1; Parkiet, p. 1) A.D.