Poles buy more goods from other countries than they sell them. Dynamic import growth is a result of improved financial standing of customers. Although in recent weeks strong zloty was not favorable for Polish exporters, this does not mean that their expansion into foreign markets is weakening.
According to the data of the Polish National Bank the value of goods sold in June from Poland to other countries amounted to almost PLN 70 billion. At the same time the value of imports reached 70.9 billion zlotys. This means that the value of purchased goods exceeded the value of sold by exactly 954 million PLN. Meanwhile, in June last year exports were higher than imports by as much as 2.8 billion zlotys.
The fact that Poles are buying more and more goods from abroad, you can also see when we look at the data for a longer period. As can be read from the NBP data, in the period from July 2016 to the end of June 2017 the total value of imports was higher than the export by PLN 2.8 billion. The year before (ie between July 2015 and June 2016), exports clearly dominated imports by as much as PLN 12.3 billion.
According to experts if import continues to grow at such a pace, we will spend at least 850 billion zlotys on imported goods in 2017, about 200 billion zlotys more than four years ago. They claim that the economic growth, better situation on the labour market and the Rodzina 500+ program increased the purchasing power of Polish households.
Expansion of Polish goods abroad is still on a good level. It indicates that, after the period of stagnation, the sale of goods to the eastern markets is becoming more and more popular among Polish entrepreneurs.