2021 is the period of noticeable recovery in trade between Poland and the USA reaching 19.5 billion of US dollars – a record  value in the bilateral relations, yet still below our ambitions

– informed the Head of MEDT.

Investments

Poland has been regularly recorded among the top investment directions in the world. We have the fourth highest number of STEM (Science, Technology, Engineering and Mathematics) graduates in the EU. This proves the growing potential of locating and establishing the R&D centres in Poland.

I deeply encourage to make further investments in Poland and to explore the Polish technological sector. The extensive opportunities of the Polish – American cooperation stem also from the Three Seas initiative

– said the Minister of Economic Development and Technology during the meeting.

Effects of war in Ukraine

At the onset of war in Ukraine, the Polish economy was in a good standing, which may contribute to mitigation of the negative effects of war-induced disturbances. Taking into account the situation linked to war in Ukraine, the GDP increase estimated for this year is at the level of 4%.

The EU funds will be also of a great help. – The non-reimbursable funds of PLN 106.9 billion negotiated in Brussels, followed by PLN 51.6 billion of loans incurred on preferential terms will be invested as strictly outlined in the National Recovery Plan. The support focuses on the activities aimed at boosting the economy, investments, economic growth and employment. The implemented activities will be targeted on the entrepreneurs, public institutions and other socio-economic entities

– emphasized Minister Buda.

Trade relations

In recent years, the USA have been ranked 8th/9th in terms of volume of the Polish import (third largest partner from outside the EU, following China and Russia) and 8th/9th in terms of volume of the Polish export (second only to Russia outside the EU). In 2021, the Polish – American trading reached the value of approx. USD 19.5 billion (+23.5% y/y), including the Polish export to the USE accounted for USD 9.0 billion (+18.8% y/y), while import from the USE for USD 10.4 billion (+28.7% y/y).

Our key export products to the USA include machinery, mechanical equipment and their parts. The main group of imported products is the parts necessary for the production of aircrafts and pharmaceutical products.