Poland's agri-food exports up by 7 pct y/y in H1
The value of exports of Polish agricultural and food products in the first six months of 2020 increased by 7 percent year on year to EUR 16.4 billion, reported the National Support Centre for Agriculture (KOWR), citing data from the Ministry of Finance.
"An increase in the value of exports of agri-food products from Poland was recorded in the first half of 2020. From January to June 2020, the sale of agri-food products abroad reached EUR 16.4 billion, 7 percent higher than in the previous the year," said the report.
KOWR stated that the growth in exports was primarily influenced by very good results of foreign sales in the first quarter and the recovery in exports in June, which was reflected in the higher revenues of domestic exporters.
"The increase in exports was due to the depreciation of the domestic currency against the euro and the US dollar in the first quarter of this year and the zloty exchange rate, still favourable for exporters, in the second quarter of this year. This situation had a positive impact on the price competitiveness of agri-food products produced in Poland on the international market," it was noted.
Imports amounted to EUR 11.0 billion and were 4.8 percent higher than in the first half of 2019.
The positive trade balance increased by 11.8 percent, compared to the same period in 2019, to EUR 5.4 billion.