According to PFR information, in the first quarter not only exports but also imports of goods to Poland increased, which resulted in a negative balance of goods turnover of EUR 278 million. As Michał Kolasa from the PFR analysis department explains, such a negative balance is “not unusual” and often occurs in the first quarter. Since 2004, such a phenomenon has occurred in Poland 15 times.
“The deficit in goods turnover was the result of exports of EUR 93.3 billion (+2.2% yoy) and imports of approximately EUR 93.6 billion (+0.9% yoy),” we read in the PFR report.
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PFR report. We buy more cars and fuel
According to PFR, the increase in exports was possible, among others, thanks to increased sales of computers (+25.4% yoy), turbojet engines and their parts (+9.8% yoy) and meat and edible offal (+8.5% yoy).
In turn, the increase in imports is due to, among others, increased purchases of cars – here PFR recorded an increase of 12.4%, as well as of petroleum derivatives (an increase of almost 46%). It is the purchases of crude oil that made Norway one of the most important importers for Poland. The share of imports from this country increased to 2.2%. in the first quarter of this year with 1.6 percent Our purchases of petroleum derivatives in Norway increased by nearly 82% year-on-year. As a result, Norway, from which we also buy a lot of fish, has become the tenth largest supplier of goods to Poland in terms of sales volume.
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In addition to Norway, the USA and China also increased their share in imports in the first quarter. “China's share increased to 15.8%, from 15.1% recorded in the corresponding quarter a year earlier (import increase by +5.7% y/y). We import more and more computers, their parts and accessories, cars and electric batteries from China,” PFR reports.
The share of the United States increased to 5.6%. with 5.2 percent (import +10.2% y/y). We bought more aircraft, their engines and petroleum derivatives from the United States.
PFR pointed out that the largest recipients of Polish exports are EU countries, which receive 75 percent. Polish foreign sales.
