KIG expects a 14.9% increase in exports in 2023

According to estimates from the Polish Chamber of Commerce (KIG), exports rose by 11.4 percent y/y to €26.94 billion in January 2023 (and by 3.5 percent m/m). The Chamber estimates that in 2022, exports increased by 21.6 percent to €320.6 billion, and in 2023-2024, they will increase by 14.9 percent y/y to €368.3 billion and by 12.4 percent y/y to €414.1 billion, respectively.

"In 2023, it is most likely that it will not be possible to maintain the previously record-high pace of export activity growth. However, it will remain at a very good level. The difference will result from a lower intensity of inflationary processes. Production costs will not increase as quickly, so the need to raise selling prices will not be as pronounced as in 2022. The effects of the decline in demand for goods whose prices have become unacceptable to customers will also be stronger," the statement reads.

Factors that will support export sales this year include good dynamics of export orders in industry, disrupted supply chains, an expensive dollar, and worsening competitive positions of suppliers from the Far East (who price their products in dollars). 

(ISBnews)