The Lewiatan’s expert does not foresee a noticeable or rapid increase in Poland’s exports due to the weakening economic situation in the eurozone, which will most likely result in a higher trade deficit.
"In the face of the weakening economic situation in the eurozone one should not expect a clear increase in demand for Polish goods or services, which will affect export dynamics," assessed the economics expert of the Polish employers’ Confederation Lewiatan, Sonia Buchholtz.
She added that the reason behind higher imports is predominantly the "well-standing domestic consumption (...), strengthened in recent months by regulations related to the quality standards of imported cars, which mobilised salespeople to speed up purchases and registration [of the cars]".
According to the data published on Thursday by the Central Statistical Office, in the period from January to August this year the growth in Polish exports, on an annual basis, was 6.7 percent, while imports grew by 9.0 percent.
The structure of major exporters and importers has not changed compared to last year - our dominant trade partner is Germany, followed by the Czech Republic and the United Kingdom.