Record growth of Polish exports. We are catching up with the EU leaders
Polish exports are growing the fastest in Europe, doubling in seven years. Dynamic growth in foreign sales is strengthening our economy, despite challenges in the global market.
Poland is increasingly making its presence felt on global markets, achieving impressive export growth. Although we are still far from the level of German exports, last year brought Poland the largest increase in exports in the entire European Union, while German exports recorded a decline. Over the past seven years, Polish companies have doubled their sales abroad, which translates into a strengthening of the złoty, a decrease in unemployment and an increase in wages.
Polish exports are growing stronger
According to the latest Eurostat data, Polish exports of goods and services increased by 21.5 billion euros last year, reaching 434 billion euros. Although we are still far behind Germany, whose exports outside the European Union amounted to 1.97 trillion euros in 2023, it was a year of dynamic growth for Poland. German exports fell by 961 million euros, which shows how dynamically the Polish economy is developing.
Over the past five years, Polish exports have increased by 65%, while German exports have grown by only 24%. In Europe, only a few countries, such as Serbia, Montenegro, Albania, Ireland and Lithuania, have achieved higher growth rates, but most of them started from a low level.
Key Export Markets and Sectors
Polish exports are growing in many key markets, including Germany, France and Ukraine. In 2023, exports of goods to Germany increased by €3.3 billion, reaching €98.6 billion. Polish companies sent goods worth €21.5 billion to France, an increase of €2.05 billion. Ukraine, despite the difficult war situation, also saw Polish exports increase by €1.7 billion, reaching €11.4 billion.
Among the most important products exported to Germany are automotive and transport products, which recorded an increase of 4.1 billion euros, reaching a value of 26.8 billion euros. Sales of food and construction materials also increased. The main exports to Ukraine were weapons, computer equipment and transport equipment, which results from the current needs of this country in the context of the ongoing armed conflict.
Export growth and challenges for the Polish economy
The growth in exports has a positive impact on the Polish economy, especially in the automotive and arms sectors. However, the war in Ukraine, while it has brought benefits to some industries, has also generated many challenges, including an impact on investment and economic stability.
It is worth noting that Poland also achieved a significant surplus in foreign trade. In 2023, it amounted to EUR 46 billion, a significant increase compared to EUR 12 billion in the previous year. This is, among other things, the effect of falling prices of energy resources, which contributed to a decrease in the value of imports.
The Polish economy is showing its strength on the international stage, dynamically increasing exports and strengthening its position in Europe. Although Germany remains the undisputed leader in exports, Poland is approaching the top European exporters year by year. Despite the challenges posed by the war in Ukraine, Polish companies are effectively using the opportunities for development, which has a positive impact on the entire economy.