Economic situation in Poland & German Asia-Pacific-exports

— Press release —

Poland in the Corona times – recession or economic boom?

Rising exports, strong domestic demand and foreign investments are the factors that stimulate the economic growth in Poland. As a result, in 2019 the Polish economy has grown by 4.1 percent. The economic success owes to the developing IT sector and the strong service industry with an increasing number of shared service centers. According to “Ost-Ausschuss der Deutschen Wirtschaft”, although Poland was the only country, which was not affected by the global crisis in 2008/2009, it is now facing strong effects of the Corona situation, namely a recession. The reason is its trade dependency on EU countries, despite the fact that the country has a strong domestic market. According to the EBRD, in 2020 Poland should expect an economic recession of 3.5 percent, but already in 2021 GDP growth of 4 percent. (Source: Ost-Ausschuss der Deutschen Wirtschaft)

Since current labor market of specialists in Poland is highly potential, it is time to invest in new employees and executives to take a better position in the country in 2021.

German Asia-Pacific-exports - new horizons for international trade

According to “Asia Bridge” magazine, three quarters of the German Asia-Pacific-exports go to East Asia, the half of which to China. Will this situation remain the same?

„Asia-Pacific-Conference“, which took place on the 19th of October, made it pretty clear that Germany focuses more and more on the Asian markets. Although not only China, but also other Asian countries are of interest. Considering the Corona situation, the conference, where governmental representatives from Asia, the Federal Chancellor Angela Merkel and the Federal Minister of economy and energy Peter Altmaier took part, was held mostly in the digital form. Angela Merkel emphasizes, that especially in the Corona times the international cooperation is of vital importance, particularly when it comes to supply chains. There are many interesting perspectives related to the Asia-Pacific-region. German representatives are sure that Germany should focus on the alternatives to China. First of all, India, Vietnam and Indonesia are promising countries for Germany. According to the chairman of the Asia-Pacific-Conference, CFO of Siemens, Joe Kaeser, India is known as a densely populated country, whilst Vietnam is considered to be the most popular country with international investors. Germany has also contributed to implementing the dual training to ensure the market has qualified specialists. Furthermore, Indonesia is a highly potential country due to increasing middle-class population. Especially Indonesia considers German companies a trusted partner to develop relations with. (Source: Asia Bridge)