Blog by Michael Clay

Poland's 2009 GDP Grows 1.7 pct y/y

Poland's GDP grew an estimated 1.7% year-on-year in 2009, slightly above expectations for 1.6%, while investments fell 0.3% with domestic demand down by 0.9%, the stats office GUS reported yesterday citing preliminary estimates.

The data are a bit better than expected and suggest that the economy grew about 3.2% year on year [in Q4]. This isn't especially controversial given the data on production, sales and construction that we've had. BNP Paribas analyst Michal Dybuła told PAP news agency.

The story we hear every day confirms that Poland has come through this past two years not entirely unscathed but nevertheless in amazing shape. Economically, Poland has really surpassed all expectations, for when the Global Crisis started, no one had even thought of the way in which the world would change.

The majority of EU members and the rest of the Western World never saw their economy grow during the past 12 months and it is really a credit to Poland and it's Government that the results we see now are confirmed to be BETTER than had been anticipated.

NOW is the time for British exporters to take advantage and begin to view Poland as an exciting place to export to. Where the value of the British product is considered to be high whilst the real costs are LOW due to the value of the POUND on the world money market.

I plead with British manufacturers and those supplying goods and services - LOOK AT POLAND - this is a country that wants to buy from you - you are just turning a blind eye and losing this wonderful opportunity.