MARKET OUTLOOK - MARCH, 2022
Poland is an important country in the European panorama. It’s ranked 25th among 45 countries in the Europe region: its economy gained strength in 2017 and 2018, slowed in 2019, and contracted in 2020 as most European countries. Growth resumed in 2021.
For decades, Poland’s economy has been dominated by three leading industries: agriculture, manufacturing and mining. These will continue to play a key role in the country’s future development, even if they are gradually losing their position due to the newly emerging countries.
The country is rich in minerals and is an important producer of coal, zinc, construction minerals. As you may guess, this aspect (together with others) is reflected also on trade: let’s have a look at the most important goods involved in the import and export of the country.
In 2020, the country had a trade deficit of $ 8B, as a result of the difference in exports ($261B) and imports ($269B).
The top exports of Poland are Vehicle Parts ($12.4B), Seats ($5.69B), Other Furniture ($5.61B), Cars ($5.42B), and Electric Batteries ($5.29B), exporting mostly to Germany ($73.1B), United Kingdom ($15.1B), Czechia ($15.1B), France ($14.7B), and Netherlands ($11.3B).
In 2020, Poland was the world's biggest exporter of Rolled Tobacco ($4.14B), Coke ($1.39B), Razor Blades ($862M), Metal Stoppers ($739M), and Candles ($620M)
The top imports of Poland are Cars ($9.58B), Vehicle Parts ($7.88B), Crude Petroleum ($6.36B), Packaged Medicaments ($5.2B), and Broadcasting Equipment ($4.98B), importing mostly from Germany ($67.9B), China ($31.8B), Italy ($14.4B), Netherlands ($14.4B), and Czechia ($11.7B).
In 2020, Poland was the world's biggest importer of Inorganic Compounds ($817M), Oxometallic or Peroxometallic Acid Salts ($653M), Compounded Unvulcanised Rubber ($455M), Roofing Tiles ($81.1M), and Scrap Tin ($18.4M).
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