Poland's exports profitability in Q2 2025 rises in EUR, falls in USD - c. bank

"In the second quarter of this year, due to the weakening of the zloty against the euro, accompanied by a reduction in the threshold exchange rate, the profitability of Polish exports in this currency increased," NBP reported.

It continued that during the survey period, the EUR/PLN market exchange rate was 6.6 percent weaker than the average export profitability threshold rate declared by companies (against 3.5 before the quarter).

"As a result, the percentage of exporters declaring that their export sales were unprofitable fell to 13.5 percent (from 15.9 percent before the quarter), which was most likely also due to slightly higher foreign demand," the central bank assessed.

The share of unprofitable exports in foreign sales revenues also declined (down to 2.6 percent from 3.0 percent before the quarter), as did the percentage of companies indicating the exchange rate as a barrier to growth (to 3.3 percent from 5.2 percent).

"At the same time, due to the strong weakening of the US dollar on global markets, the profitability of exports expressed in dollars decreased – the USD/PLN market exchange rate was 1.8 percent weaker than the export profitability threshold (compared to 3.4 percent in the first quarter of this year)," NBP pointed out.

According to companies' declarations, the export profitability rate in EUR fell to 4.01 from 4.05, and in USD it fell to 3.65 from 3.73.

In turn, the import profitability rate in EUR remained stable at 4.64, while in USD it fell to 4.33 from 4.38.

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