Economy Ministry expects 2014 exports to rise by 9pct, imports by 8pct
August 20, 2014
Poland can record 9% exports growth and 8% imports growth in 2014, resulting in a trade deficit of EUR 0.6 billion, but the forecast may require adjustment for the effects of the UE-Russia trade dispute, the Economy Ministry wrote in a quarterly report.
"It is expected that in 2014 exports will increase by 9% to around EUR 168.9 billion, imports will rise by 8% to around EUR 169.5 billion and as a result the trade deficit will be reduced by around EUR 1.4 billion to around EUR 0.6 billion," the report reads.
"It should, however, be noted that in connection to the current situation related to the trade conflict of Russia with the West, there may be a need to revise the above forecast," the ministry said.
Poland's exports in H1 rose 5.4% y/y to EUR 80 billion, while imports increased 4.5% to EUR 80.2 billion, preliminary data from the Central Statistics Office (GUS) showed.