Exports contribute to 10-fold growth in foreign trade surplus in 2020

"Polish exports are one of the key factors supporting economic growth," Deputy Prime Minister and the Minister of Development, Labour and Technology Jaroslaw Gowin was quoted in a Monday press release as saying. Roman Zawistowski/PAP

Poland's foreign trade surplus grew 10-fold in 2020, the Ministry of Development, Labour and Technology wrote in a commentary following the release of the latest data on Polish exports.

According to preliminary data from the country's Central Statistical Office, Poland's foreign trade surplus increased to PLN 53.7 bln (EUR 12 bln) in 2020 from PLN 5.1 bln (EUR 1.14 bln) in 2019.

"Polish exports are one of the key factors supporting economic growth," Deputy Prime Minister and the Minister of Development, Labour and Technology Jarosław Gowin was quoted in a Monday press release as saying.

The ministry stressed that the 2020 result was one of the best in the EU.

Experts added that last year, despite the pandemic, Polish exports grew 2.8 percent y/y reaching the value of EUR 237.5 billion.

Deputy Minister Robert Tomanek expects Poland's goods turnover to accelerate in 2021. "We expect that the dynamics of exports of goods will clearly exceed the growth of GDP," said Tomanek.