general_uop
13.05.03, 05:08
In February, Polish import declined five percent as compared with the same
month in 2002. On the other hand, export, despite negative business trends in
the world, continues to grow. In February, Polish companies sold on foreign
markets goods worth 2,637 million Euro, 7.5 percent more than a year ago.
Import to Poland cost 3,217 million Euro – up 5.1 percent on the figure for
February 2002. In effect, after two months, foreign trade deficit amounted to
1,702 million Euro or 22 percent less as compared with 2002. Total current
account deficit, which next to commodity exchange also includes payments for
services, interests and unregistered trade in the January-February period
amounted to 1,221 million Euro, nearly twice less than in the corresponding
period of last year. Data published by the National Bank of Poland on March
31 are mostly in conformance with what analysts expected. Export continues to
grow despite the lack of improvement of economic conditions. Economists fear,
however, that Poland may also suffer more in effect of the global
recession. "Germany is our main trading partner. In 2002, the economic
situation in that country failed to help our exports but neither did it harm
it. I am afraid, however, that this year we may clearly feel the negative
effects of the German recession," said an economist from the Polish branch of
the Bank Societe Generale Marcin Mróz.
