Poland's exports will probably increase by 9.3% y/y to EUR 170.5bn in 2014 and by further 11.9% to EUR 190.8bn, according to estimates of Export Credit Insurance Corporation (KUKE), based on data concerning the condition of Poland's economy in April, as well as taking into account the demand for services of concerning export insurance. A month earlier, it projected this year's exports growth at 9.1% y/y and at 12.2% in 2015.
In zloty terms, exports are expected to increase by 7.3% to PLN 702.8bn in 2014 and by further 8.7% to PLN 763.6bn in 2015.
It estimates that in April of 2014 alone, Polish exports increased by 2.8% y/y to EUR 13.67bn (but was down by 3.5% on the month), while calculated in the Polish zloty, it was up by 3.9% on the year to PLN 57.23bn (and down by 3.8% m/m).
KUKE stresses that the Russian-Ukrainian crisis may lead to a significant regress of exports to these countries, but it hopes that part of shipments from Poland may be redirected to other destinations.
However, it also points to seasonal factors (Easter) limiting economic activities this April and stresses that already May should see exports growth closer to 10% y/y.
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