Becoming Germany’s second-largest EU and its fourth in the world supplier of goods, Poland has strengthened its trade position, the Polish Economic Institute (PIE) said on Thursday.
PIE noted that in July 2020, Poland's share in German exports was 0.6 percentage points higher than in the previous year and amounted to 5.3 percent.
According to the institute, the country also developed its position as an importer from Germany. Poland's share in this segment rose by 0.8 percent to 5.8 percent in comparison with the previous year.
"The growing importance of Poland is, in turn, the effect of the mild course of the COVID-19 pandemic in our country and the provision of relatively cheaper goods to the German market in contrast to many other exporters," PIE experts observed.
The increase in German exports results from growing global demand for three product groups: motor vehicles and automotive parts, machinery and mechanical devices, as well as electrical appliances and their parts.
Poland is not only an exporter of cars to the German market, but also supplies parts and automotive accessories to German factories producing cars for export. "Hence, the increase in foreign demand for cars manufactured in Germany also stimulates Polish export of parts to the country," PIE said.