Home breadcru News breadcru Import/Exports breadcru Poland records trade surplus of PLN 41.1 billion in Jan-Aug 2023

Poland records trade surplus of PLN 41.1 billion in Jan-Aug 2023

19 Oct '23
2 min read
Pic: Adobe Stock
Pic: Adobe Stock

Insights

  • Poland's foreign trade showed a positive balance of PLN 41.1 billion for the first eight months of 2023 (January to August), a reversal from last year's PLN 60.1 billion deficit.
  • Exports increased by 3.2 per cent, while imports fell by 6.2 per cent.
  • In US dollars, the country's trade surplus reached $9.7 billion in the first eight months of 2023.
Poland's exports at current prices reached Polish zloty (PLN) 1,070.5 billion, while imports stood at PLN 1,029.4 billion for the first eight months of 2023, according to Statistics Poland. This resulted in a positive balance of PLN 41.1 billion, which contrasts starkly with the negative balance of PLN 60.1 billion during the same period in 2022.

The data indicates that, compared to the corresponding period of last year, exports have increased by 3.2 per cent, whereas imports have decreased by 6.2 per cent.

When expressed in US dollars, exports amounted to $252.3 billion and imports to $242.6 billion. This represents an increase in exports of 3.5 per cent and a decrease in imports of 5.9 per cent. The positive balance reached the level of $9.7 billion, reversing the negative balance of $14.2 billion observed during the same months in 2022, as per Statistics Poland.

Similarly, when converted to euros, exports stood at €232.4 billion and imports at €223.5 billion. In terms of percentage change, this equates to an increase in exports of 3.7 per cent and a decrease in imports of 5.7 per cent. The positive balance in euros was €8.9 billion, in contrast to a negative balance of €13.0 billion during the same period last year.

ALCHEMPro News Desk (DP)

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