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Foreign trade goods turnover in June and January-June 2021 - commentary by the Ministry of Development and Technology analysts

15.09.2021

Polish merchandise exports are growing for the tenth month in a row - in June this year they were 23.1% higher than a year ago. The growth rate of Polish exports and imports continues to be in double digits. The balance of trade in goods in June is again in the positive.

Data, Analysis, Comment

Figures released today by the Central Statistical Office show that in June 2021 Polish exports of goods amounted to EUR 23.5 billion, an increase of 23.1% compared to June 2020. (EUR 19.1 billion). Polish imports, in turn, amounted to EUR 22.9 bln, while a year ago they were around EUR 16.8 bln, an increase of 36.4% y/y. As a result, the June 2021 foreign trade in goods surplus was recorded at EUR 582.1mln (in May the balance was EUR -23.1mln).

The dynamics of June exports is clearly lower than in May (38.8%) or April (61.5%). This is due to the weakening effect of the low base effect. Similarly, the dynamics of imports has weakened (in May and April this year, the dynamics reached almost 50% y/y),

- analysts from the Ministry of Development and Technology note.

As in the previous month, Polish imports are growing visibly faster than exports. These data, according to the Ministry's analysts, confirm the hypothesis that in the period of a strong economic revival, imports have a faster, anticipatory reaction to exports.

 

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