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(MENAFN - ING) Double-digit growth in merchandise exports and imports The December surplus was five times lower than in November and compared to market consensus of €1.1bn and our projection of €0.9bn. However, there is a strong seasonality pattern in foreign trade, with lower volumes in December because of the holiday season. Nonetheless, Poland continues to be an exporting nation. And the rebound in imports is not necessarily a bad thing, as it may suggest a revival of domestic investment from its record low levels. Poland posted current account surpluses in every single month of 2020, which made together €18.4bn (3.6% of GDP) in the pandemic year compared to a €2.6bn surplus in 2019 (0.5% of GDP). The merchandise trade surplus increased form €1.2bn in 2019 to €11.7bn in 2020. At the same time, Poland recorded a €24bn surplus in services accompanied by a sizeable €15.9bn deficit in primary income and €1.5bn deficit in secondary income, but these patterns were

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