Poland is EU yacht export powerhouse - study

Polish yacht shipyards are among the most modern in Europe. Tomasz Waszczuk/PAP

Poland is considered an EU leader in selling yachts exports, according to a recent study by the Polish Economic Institute (PIE).

According to data by Eurostat, the EU's statistical office, exports of Polish yachts accounted for 60 percent of the total yacht exports in the European Union in 2018, while in 2014-2018 exports doubled (from EUR 184 mln to EUR 395 mln). For comparison, Finland's exports totaled EUR 60 mln, 9.1 percent of EU exports, and Italy's stood at EUR 36.7 mln, 5.6 percent of EU yacht exports.

Polish yacht shipyards are among the most modern in Europe. According to the Polish Chamber of Marine Industry and Water Sports (POLBOAT), they manufacture around 22,000 units a year. Due to the high price of yachts, from several thousand euros up to several million euros, demand is still low in Poland, hence 95 percent of production goes for export, the study said.

The main buyers of Polish yachts are the United States, Western Europe including Norway, France and Germany, as well as Russia and the Middle East, PIE said. The institute's study shows that Polish yachts are also bought by Australian, Japanese and Chinese customers.

The analysis also shows that Poland is a trendsetter in new technology implemented in the yacht industry, presenting practical solutions in the field of design as well as in the quality of finishing.

The PIE report also showed the key role of consoles and video-game devices in Poland's foreign trade. Their exports increased five-fold in recent years (from EUR 235 mln in 2014 to EUR 1.3 bln in 2018).