Poland's Trade Deficit Narrows in May

Poland's trade deficit narrowed to €1.18 billion in May 2026 from €1.64 billion in the same month a year earlier, as export growth outpaced imports. Exports rose 5.5% year-on-year to €30.3 billion, driven by higher shipments of raw silver, refined copper, and computer equipment, while exports of petroleum products also increased significantly. However, weaker sales from the automotive sector continued to weigh on overall export growth. Imports increased at a slower pace of 3.7% to €31.4 billion, despite a nearly 70% surge in oil import prices. Higher purchases of computers parts and components supported import growth, although lower imports of passenger cars helped limit the overall increase.

Poland’s trade deficit expanded sharply to €2.0 billion in April 2026, up from €1.5 billion a year earlier, as imports outpaced exports. Imports surged 7.8% to €32.6 billion, driven by higher fuel purchases amid elevated energy prices linked to the Middle East conflict. Significant increases were also seen in the value of computers, immunological products, and vaccines, while passenger car imports continued their long-standing growth trend. However, the supply of automotive parts declined further. Exports grew at a slower pace of 6.6% to €30.6 billion, supported by strong demand for copper and raw silver, as well as rising foreign sales of computers. However, declines in the automotive and durable consumer goods sectors weighed on overall export growth.

Poland’s trade deficit narrowed sharply to €497 million in March 2026, down from a revised €1.53 billion in the same month last year. Exports surged 7.4% to a record €32.44 billion, driven by strong performance in supply goods, particularly copper and raw silver, which benefited from higher prices. Capital goods exports also continued their upward trend, fueled by rising computer sales, while agricultural exports rebounded as well after two months of stagnation. Imports grew at a slower pace of 3.8% but still reached an all-time high of €32.93 billion, primarily due to rising fuel prices. Other categories, including durable consumer goods, capital goods, and passenger cars, also saw continued growth. For the first quarter of 2026, the trade gap shrank to €1.29 billion, compared to €2.98 billion in the same period of 2025.