18 Jul Along the Silk Road – Edition 2 – Trading with Poland
China has long been a desired trading partner for many European countries, and vice versa. With the increasing highlight of the OBOR initiative, Poland has also become a focal point for China in terms of trading logistics.
In 2014, Poland’s imported volume from China reached $15 billion, with electromechanical products making up nearly half of that value at $7.1 billion. Exported volume to China valued at $2.2 billion, with base metal leading at $820 million. In 2015, bilateral trade has reached US$17.1 billion between China and Poland, a 6-fold increase compared with 2004.
Accordingly to HSBC’s Trade Confidence Survey conducted in 2015, it is indicated that Poland’s score increased by 6 points from the last survey’s 110 in 2015H1 to 116 in H2. Germany, UK and France will remain as the top three export destinations for the next 15 years.
The European demand for Polish exports is likely to increase as the medium to long term outlook for trade is looking positive. Areas such as capital spending, and the process of supply-chain integration between Poland and EU is set to strength as the Eurozone recovery continues. Transport equipment and machine will remain as the main source of export revenue and growth in Poland, as together they account for 42% of total exports.
Poland and China have seen some great strategic partnerships since 2011. Poland now enjoys the title of China’s biggest trading partner in Central Eastern Europe, and China is Poland’s third largest source of imports in Asia.
According to Poland’s PAIZ foreign investment agency chief Bartlomiej Pawlak there are currently around 900 Chinese capital companies in Poland, but he is still of the opinion that that has been a “lack of spectacular Chinese investment”.