NBP says exports rose significantly in June despite stronger złoty

Although a stronger złoty may have turned out to be a deterring factor for companies, the country's exports are rising. The National Bank of Poland (NBP) revealed that in June the trade turnover saw a surplus of EUR 83 million more than May's turnover of EUR 568 million. This was mainly due to increasing exports, which rose from EUR 5.34 billion in May to EUR 5.65 billion (zł.24.9 billion) in June. Comparing 2004 and 2003, export rose by as much as 30%. "The data was very surprising for most analysts. We expected a EUR 60 million deficit in trade turnover but it came out we have a surplus," said Bank Handlowy's expert Paweł Antonik. He also added that the revelations of the NBP have to be treated with caution as it is possible that the numbers will be reduced, as has happened before. "The increase in foreign trade was probably caused by an increased demand for Polish food in the EU," said Antonik. (Puls Biznesu, p. 3) D.W.