Imports in Poland are still growing faster than exports, according to the latest data from the Central Statistical Office. In November, we sold abroad goods worth EUR 31.8 billion, and in the 11 months of last year we sold EUR 31.8 billion. for EUR 315.5 billion. Imports amounted to EUR 33.8 billion in November, and in the 11 months of last year it amounted to EUR 33.8 billion. —333.1 billion euros. In this way minus in foreign trade increased last year. to EUR 17.6 billion, and in November alone it amounted to EUR 2 billion. This will have a negative effect on subsequent GDP readings.
Imports grew for obvious reasons – energy resources from oil to gas were much more expensive than a year ago. But it was not Russia that we paid the most for in November. Imports from Russia fell by as much as 62.2 percent. Every year, i.e. by EUR 1.25 billion. A year ago, in November, we imported goods worth EUR 2 billion, and now, despite the increase in their prices, for only EUR 758 million.
On the other hand, imports from the United States, Norway, Germany and Great Britain. We imported goods worth EUR 1.45 billion from the USA, EUR 503 million more than a year earlier (+52.9% yoy). From Norway, thanks to Since the launch of the Baltic Pipe, imports have gone up by 114%. to almost EUR 500 million. This is EUR 265 million more year on year. We imported 13% from Germany. y/y more (+EUR 770 million) for EUR 6.54 billion. 53% more people went to the UK from Poland. yoy more money for imported goods.
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Over the 11 months of 2022, imports from Germany increased by EUR 12.4 billion, and exports by EUR 11.8 billion. In China, we increased purchases by as much as EUR 11 billion, while our tiny exports to that market fell by EUR 136 million. From January to November, imports from the USA increased by EUR 6.2 billion year-on-year, and exports to that market by EUR 2.5 billion. Significant imports also increased from Saudi Arabiawhere goods came from, mainly oil worth EUR 5.3 billion, with exports of only EUR 802 million.
The largest increase in exports to the Czech Republic and Ukraine
A lot of interesting and surprising things were also happening on the export side. Like, for instance, that Ukraine was among the top ten largest destination countries for our foreign sales. The country, which theoretically currently has no funds for anything, overwhelmed by the aggression of the Russian army, received from us within 11 months of last year. goods worth as much as EUR 8.7 billion, which is over EUR 3 billion more (+54%) than a year earlier in the same period.
In November, Ukraine even moved up to seventh place, ahead of Slovakia and the USA. The increase in Polish exports to the Ukrainian market in November alone amounted to as much as 97 percent. y/y, or EUR 594 million, reaching EUR 1.2 billion. It is not clear how real payments for these goods will be, but such values are reported by the Central Statistical Office. What could it be? At the end of October, there was information that Poland sent a total of 230 tanks to Ukraine, modified T-72 and PT-91 Twardy, although the media also wrote that there were really only a hundred of them. Other weapons and humanitarian aid are also directed there on a large scale.
The dynamics of exports to the Czech Republic is also high. In November, we sold goods worth EUR 2.12 billion, i.e. EUR 406 million more year-on-year (24%). This is the second largest jump in value of Polish exports after Ukraine, and As a result, the Czech Republic strengthened its position as the second recipient of our goods. However, the growth dynamics in November fell to 23.6 percent. yoy compared to 32.8 percent. in 11 months.
France ranks third among our target markets, where we shipped goods worth EUR 1.7 billion in November and EUR 17.9 billion in 11 months. However, exports to the US grew faster, where buyers were found for goods worth EUR 902 million in November, and EUR 9.4 billion in 11 months.
