Spain and Holland new top export destinations

Following last year's Russian embargo, Polish producers endeavored to find new export destinations. With growing demand from Spain and the Netherlands, they managed to compensate their losses, according to a report by lender BZ WBK. Exports to Russia accounted for 2.8 percent of Polish exports in January-April 2015. Last year, it was 4.3 percent in the same period. Meanwhile, exports to Spain grew by 22.2 percent y/y and the country is now the 7th biggest importer of Polish products. "Spain will be one of the most popular markets for goods from Poland  in the coming months. ... I predict this on the basis of the number of our customer requests. It seems that Spain is slowly moving in the direction of the top five recipients of Polish goods," said Robert Antczak, responsible for international business development at BZ WBK. Polish producers also recorded a soaring increase of exports to the Netherlands. Currently it accounts for 4.6 percent of Polish exports, compared with 4.1 percent last year. Exports to Poland's biggest recipient, Germany, grew by 9 percent y/y.