19:28 7 February 2025
Polish Exports Face Longest Decline in the 21st Century
The National Bank of Poland (NBP) reports that the third quarter of 2024 marked the sixth consecutive quarter of real export decline, the longest such period in the 21st century. Exports decreased by 3.7 percent y/y, totaling PLN 345.7 billion.
This downturn is attributed to weak demand within the European Union and increased imports from non-EU countries, particularly China, in categories like durable consumer goods and vehicle parts.
The automotive sector experienced the most significant decline, with exports dropping by 10.3 percent y/y. Notable decreases include electric batteries (33.3 percent), passenger cars (25.5 percent), trucks (36.5 percent), and buses (37.3 percent).
Despite the ongoing decline, the NBP notes a slight stabilization, as the rate of decrease was smaller than in previous quarters of 2024. In four categories, the scale of decline lessened, while in agricultural products and consumer goods, export values remained comparable to the third quarter of 2023.
