KIG estimates export growth at 0.9% y/y in November, expects an increase of 4.9% in 2023

In November 2023, exports surged by 0.9% y/y to EUR 30.65 billion, concurrently rising by 3.2% m/m, as reported by the National Chamber of Commerce (KIG). Throughout 2023, exports increased by 4.9% to EUR 337.7 billion. A month ago, KIG estimated a 5.2% increase to EUR 338.7 billion for 2023 and an 11.3% rise to EUR 376.9 billion in 2024. Currently available data indicates November's 3.2% increase compared to October and a 0.9% rise y/y. However, KIG anticipates a decrease in December due to seasonal factors. Despite a slowdown in export dynamics, KIG foresees factors favoring export sales in 2024, such as supply chain disruptions prompting EU countries to seek local suppliers and a favorable exchange rate. In 2022, export sales increased by 22.2%, reaching EUR 322 billion, and KIG estimates a further rise to EUR 377 billion in 2024.

Source: isbiznes.pl