Within nine months of 2008 Poland exported goods worth over EUR20 billion to Germany, which accounts for over 25 percent of Polish exports. "If a 4 percent GDP drop took place in Germany, this would mean that growth of Polish exports could be negative. In this case a deeper recession would concern the entire Eurozone," said Jakub Borowski, chief economist with Invest Bank.
According to other experts, Polish exports will indeed decrease in 2009. This is proven by the fact that other Polish trade partners, such as France, Italy and Great Britain also have economic difficulties.
However, "We anticipate a slight growth of exports. We believe that the effect of looking for cheaper suppliers will work in the case of our trade partners, which might be favorable for Polish companies," said Maja Goettig, chief economist with BPH.
Source: Rzeczpospolita
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