Uwarunkowania zewnętrzne handlu zagranicznego w okresie kryzysu finansowego i ich wpływ na rentowność polskich eksporterów
Foreign Trade External Determinants in the Period of Financial Crisis and Their Impact on Polish Exporters’ Profitability

Summary/Abstract: The recent crisis in the global economy has led to a drastic collapse of international trade exchange in 2009. Decreasing of the value of international trade exchange resulted, inter alia, from the global downturn, drop of confidence in markets, reduction of possibilities to finance trade by credit as well as the global trade structure, which is dominated by global production chains. Despite the global trade’s collapse and global downturn, profitability ratios for a group of Polish exporters and specialised exporters in 2008-2011 were characterised by a constant growth trend. What’s more, in the period in question, Polish exporters noted a greater increment of net sales profitability than enterprises not being exporters. Having the said in mind, an aim of the present survey was to carry out an analysis of determinants of the macroeconomic nature that have influenced Polish exporters’ economic condition and to give an answer to the question of the reasons for such a good condition of Polish exporters in the period of crisis. The carried out surveys showed that a relatively good economic and financial situation of Polish exporters in the period of recent crisis, inclusive of the period of global trade collapse at least partly was a consequence of occurrence of several positive trends of the macroeconomic nature, including a relatively quick recovery of the economic growth and internal demand in main Polish export markets as well as occurrence of favourable trends as regards formation of foreign exchange rates and terms of trade in foreign trade.

• Details
• Contents