– Our latest data signal that the situation in trade with the United Kingdom has returned to normal after the shock of leaving the EU’s common trade zone at the end of 2020 – indicates Katarzyna Kowalska, vice president of the Export Credit Insurance Corporation (KUKE).
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– We believe that also in relations with contractors from the Islands, our exporters will record a dynamic increase in sales – he adds.
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At the beginning of the year, the value of trade with Great Britain insured by KUKE fell by over 20%. According to KUKE, one of the reasons may have been the increased deliveries of goods to the British Isles at the end of 2020. In this way, Polish companies wanted to avoid the expected problems with formalities at the borders or the need to pay new fees.
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In April, the situation changed dramatically, and Polish companies insured sales to British contractors with a value of 134 percent in KUKE. more than a year earlier and by 17 percent. more than a month earlier.
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– Of course, you have to remember that April 2020 was the first full month when Europe was paralyzed by the restrictions related to the coronavirus – emphasizes Kowalska.
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During this period of last year – as KUKE reminds – transport was difficult due to the closure of the borders, and in addition, entrepreneurs were afraid of the further development of the epidemic situation. As a result, compared to March 2020, turnover decreased by as much as 57 percent. In May, this decline was even deepened.
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– This year the situation is completely different, and in May this year we recorded an increase in the value of the insured trade by 28%. Every year. In total, after five months, taking into account the revised KUKE data, the increase is 52 percent. – he lists.
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The vice-president assumes that the coming months will bring the sustained high dynamics of export growth, although the scale of improvement will gradually decrease due to the waning of the statistical effect, as the second half of 2020 was a period of strong expansion of Polish producers on global markets.
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According to Kowalska, the economic growth recorded in this country in May speaks in favor of an increase in trade turnover with Great Britain. Although it was lower than market expectations (amounted to 0.8%), it was the fourth consecutive month in the black. Retail sales in the UK are also doing well. In addition, sanitary restrictions are being removed from other areas of the economy.
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– There is no significant increase in insolvencies in the corporate sector so far. Entrepreneurs are gradually becoming acquainted with the new procedures applicable in trade with Great Britain outside the EU, which is why our exports should be able to cope better and better. Therefore, Polish suppliers of consumer goods, including food, can count on good sales results – says the expert.
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