Polish export opportunities
Polish exports are expected to see a sharp rebound this year, according to trade credit insurer, Atradius (www.atradius.co.uk).
In its latest Country Report for the region, Atradius forecasts exports in Poland will rise by as much as 9% in 2021 more than compensating for the 1.9% contraction in 2020 and supported by resurging demand from the Eurozone. Imports into Poland are also expected to rebound by nearly 10% in 2021 after a drop of nearly 5% last year.
“With an established trading relationship, imports and exports between the UK and Poland increased in the four years leading up to the pandemic and, despite being shaken over the past year, there are positive signs of recovery. With a large domestic market and often seen as a gateway into Central and Eastern Europe, Poland is an interesting proposition for businesses looking to trade overseas particularly in the consumer durables and metals sectors. That said, the pandemic has introduced a significant degree of uncertainty into the global trade environment which makes the associated risks even more acute,” says Richard Reynolds, Head of Strategic Accounts at Atradius UK.
“UK businesses looking to trade overseas must ensure they adapt to these risks as well as understand the potential impact on the wider market and on their individual customers. A robust risk management strategy and protection from non-payment and insolvencies is critical.”
The Polish report is part of a series of country, economic and trading reports by Atradius to support businesses trading in overseas markets.