Poland’s export up by 5 percent y/y in September to €14.18 billion

Export of goods from Poland increased in September by 5 percent year-on-year reaching €14.184 billion, according to Export Credit Insurance Corporation (KUKE). In month-on-month terms exports grew by 22.7 percent. “This year’s summer decrease in activity was much deeper than usual. … It was partly the result of weaker infrastructure. It was also partly caused by the fact that this year there were more vacations taken than in previous years,” the report said. The corporation also pointed to the very disconcerting fact that there is still no ease in tension between Kiev and Moscow, which has been translating to a significant decrease of Polish exports to those markets. “The decline in demand for Polish goods in the CEE countries can be at least partially compensated by shipping to other markets. Unfortunately, our main European partners’ latest economic slowdown has lowered the absorption of their markets for our goods, both those that have traditionally been sold there and those that have been redirected from eastern markets,” KUKE emphasized. The firm expects the total value of Poland exports this year to come in at €157.7 billion, 6 percent higher than last year. Its forecasts for 2015 are even more optimistic, with total exports reaching €175.9 billion, an 11.5 percent increase y/y.