Economy
22:19 14 June 2021
Post by: WBJ

Exports in euro up by 69.2% y/y, imports up by 59.8% in April

Exports in euro up by 69.2% y/y, imports up by 59.8% in April
Source: Photo by frank mckenna on Unsplash

Exports of goods from Poland increased by 69.2 percent y/y to €23.38 billion in April 2021, while imports increased by 59.8 percent y/y to €22.09 billion, according to data presented by the National Bank of Poland ( NBP). The trade balance was positive and amounted to €1.29 billion against €589 million of a positive balance a month earlier.

"In April 2021, there was a strong increase in the value of exports and imports on an annual basis. This was the result of the low reference level of April 2020, when the value of trade turnover decreased due to the then binding restrictions aimed at stopping the spread of the Covid-19 pandemic additionally contributed to the rapidly growing demand for products manufactured in Poland, observed since September 2020, as evidenced by a large increase in the value of exports compared to the corresponding period of 2019. At the same time, due to the high share of foreign value-added in goods characterized by the highest growth in exports, it was accompanied by a similarly large increase in imports. The estimated value of exports of goods amounted to PLN 106.8 billion, which means an increase of PLN 44 billion, i.e. by 70 percent compared to the corresponding month of 2020. The value of imports of goods compared to April 2020 increased by PLN 38 billion, i.e. by 60.5 percent and reached the level of PLN 100.9 billion," NBP stated.

Compared to April 2019, the value of exports increased by 26.8 percent, and imports by 20.9 percent. In the discussed period, there was an increase in the value of exports, mainly of car batteries, TV sets, catalysts, clothing, and furniture.

(ISBnews


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