Polish Exports Resilient to Crises
Recorded at slightly below 10% over recent years, the growth rate of Polish exports topped 20% in 2021. Central Statistics Office data for the first two months of that year suggest that this positive trend has continued.
Experts believe such performance would not have been possible without industrial development. “Export expansion is tied closely to development in the processing industry, largely due to the influx of direct investments that in turn mainly involve the construction of manufacturing plants in Poland to support assorted sectors, such as automotive, household appliances, consumer electronics, machines and devices,” explains Piotr Bielski, director of the Economic Analysis Department at Santander Bank Poland. Bielski further remarked that over the past two decades, Poland has consolidated its position as “Europe’s manufacturing centre”: we have been able to attract investors owing to our convenient geographical location, competitive labour costs, and large numbers of highly-qualified human resources.
The share of foreign equity in Polish exports amounts to 50-55%, reaching over 80% and approximately 40% in the automotive and furniture manufacturing industries, respectively.
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