Trade deficit with EU up euro 1.7 billion at end of last year

Poland's trade deficit with European Union (EU) countries increased from euro 6.6 billion in September 2001 to euro 8.3 billion in November of last year, according to a Eurostat report published last Friday. The increase is surprising, as during the first 11 months of 2001 Poland's exports to the EU increased by 15%. The EU's overall trade balance after the first 11 months of 2001 was negative, largely due to a deficit in trade with partners such as China, Japan and Russia. However, Poland was the third largest source of foreign trade surplus for the EU, after the United States, whose deficit in trade with the EU was euro 40.3 billion, and Switzerland, with a deficit of euro 13.1 billion. The Czech Republic had a deficit of euro 2.3 billion, while Hungary managed a surplus of euro 0.4 billion. (Prawo i Gospodarka, pp. 1, 9) T.J.