Polish exports on the rise

Photo: Glowimages

During 25 years of a free market economy, Poland has become a strong exporter. Goods worth almost 800 billion zloty (191.3 billion zloty) were sold abroad in 2013, to more than 200 markets.

While in the early 90s exports accounted for just around 10 percent of Poland's GDP, they now stand for 47.8 percent.

The figure is still lower than in some other countries in the CEE region, like Lithuania (83.8 percent) or Slovakia (95.6 percent).

However, this results from the fact that Poland is a far bigger market than those countries and local firms have plenty of space to expand before they head abroad.

Poland compares well with other large European countries. In Italy the share of exports to GDP is 28.9 percent, in France it is 29.5 percent and in Spain, 32.4. It is only higher in Germany, where the level is 50.9 percent.

“The condition of Polish exports 25 years after the transition is a cause for satisfaction,” PKO BP economist Piotr Bujak told business daily Puls Biznesu.

“Our economy has created a solid, increasingly technologically advanced production base.”

“This was especially visible in the past few years, when the situation in the eurozone was very difficult and Polish exports fared well,” Bujak added.

While exports grow fast, foreign investments lag behind slightly.

In 2013 Polish firms spent almost 4 billion zloty (some 900 million euro) abroad, which was the least since 2004.

“Investment expansion is slower than the export one, because it is easier to send goods abroad than to build full structures there,” Bujak explained.

“Nevertheless there is nothing to be ashamed of. Polish foreign investments in the EU are higher than Russia's, for example.” (kw/nh)