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The Warsaw Voice » Business » September 15, 2017
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The trade deficit to ease
September 15, 2017   
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Grzegorz Ogonek
Strong domestic demand has led to the run-up in a trade deficit for Poland in 2017, but the move appears only gradual to date, BZ WBK economist Grzegorz Ogonek said of July current account data.
The trade deficit should ease in the coming months as industry picks up after summer holidays. Rising foreign sales of services also protects Poland from the type of trade deficits Poland sported a decade ago, he adds.
Exports can gain momentum from both strong conditions in the EU and a return of demand from the east, BGK economist Piotr Dmitrowski said. A recent PMI reading suggesting that industry is blocked from meeting production targets, in part by a labor shortage, should be ignored as the barriers will be met by rising investments, he said.
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