
After a record-breaking year, now let’s conquer new markets
In Poland, 74 high-quality investments worth EUR 7.4 bn were completed with 20,000 new jobs. And now the prospect of a joint Chamber of Commerce with Mexico.
In Poland, 74 high-quality investments worth EUR 7.4 bn were completed with 20,000 new jobs. And now the prospect of a joint Chamber of Commerce with Mexico.
In December, the surplus on the CAB increased thanks to a drop in the foreign trade deficit and a rise in the surplus balance of services.
December data show a deficit of PLN 0.1bn in the country’s current account, with trade in goods declined the sharpest in 2023.
The value of the export of apples in January 2022 was $28,000, and a year later it increased by 50 times. The result for the whole of 2023 is almost $5 mln
Last November the downward trend in export goods continued (-8.3% to 12 months prior). The value of goods imports decreased by 13.8%.
Last November the surplus on the CAB decreased by 34.3%, where the trade balance suffers alongside exports (services -3.2%).
Market expectations of rapid disinflation remain, but underlying risks come from commodity costs, monetary supply, and trade protectionism.
The core inflation is persistently higher than headline, while expansionary fiscal policy increases the pressure and weaken the competitiveness.
The current decline in Estonia’s exports is more a reflection of the weakness in foreign markets and the problems with competitiveness.
In an open system, economic transformation led by the freedom of private initiative requires to focus on the amelioration of market exchange.