Polish entrepreneurs are afraid of negative effects, and hard data show almost a billion-dollar decline in exports of goods to the islands. The United Kingdom may permanently lose the second position among the main markets for Polish companies.
The negative impact on statistics at the beginning of this year had, among others, decrease in export of goods. Among the most significant Polish trading partners, we lost the most on reducing the sales of products to Great Britain.
In the first three months of this year, we sent goods worth 6.4 percent to the islands. less than a year earlier. A year ago, our exports to the United Kingdom were at the level of PLN 14.5 billion. Now it is almost a billion zlotys smaller. Experts point out that Brexit’s specter and changes in trade rules with the United Kingdom can deter entrepreneurs from investing in this direction.
There are no details about the conditions for the division of the British with the European Union, but you can expect imposition of duties and increase of transaction costs related to customs controls, longer transport, etc. As a result, many Polish companies may not be able to trade with the UK.
An important factor for exports is also undoubtedly the pound rate, which in recent years has been quite volatile. They are a considerable obstacle for business, especially for companies that do not hedge against currency risk. Exporters for the same goods get less and less money converted into our currency. Its scale well shows the recent fall in quotations.