Despite the turmoil on European markets, Polish exports expanded last year year by 4 percent, hitting a new high at the end of 2012. Local companies sold goods worth €145.9bn abroad, up 4.1 percent compared to last year’s figures. According to the National Bank of Poland, Polish exports grew 21 percent since 2008, when the economic crisis hit. “It’s the exports that are currently boosting the Polish economy,” claims Tomasz Kaczor of Bank Gospodarstwa Krajowego. “International trades increase slightly, which is really good news, considering the worsening sentiment on Europe’s markets.”
The National Bank of Poland points out that exports now account for nearly half of GDP, which reflect a 24 percent jump. This increases the country’s vulnerability to external shocks, but at the same time, it stimulates the economy.
