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Poland: statements show a positive sign

JVF

Even if the forecasts of the economists speak of a slowdown in growth, Poland’s 2018 import-export statements close respectively at + 6.3% and + 6.5%. Expectations for the next jewelry events.

Only following diamonds as for hardness, ruby is among the most requested stones for its reference to love, passion, victory, longevity, transversally evoked by its color in the different cultures. There has probably been no civilization that hasn’t been attracted to this gem, a red corundum having its most precious deposits in northern Myanmar in Burma. Ruby deposits are also present in Thailand, Sri Lanka, Madagascar and Tanzania, to continue with Afghanistan, Cambodia, Kenya and Vietnam. Generally, ruby is a very rare stone.

The commercial exchange between Italy and Poland in the last five years, as shown by the figures of the Ice Agency, has been fluctuating within a range between 9 and 12.5 billion as regards exports and between 6 and 9 billion for imports.

In the first nine months of 2018, exports reached 10 billion and imports to 7.1 billion, a slight increase for the first and a slight decrease for the second. Italy’s market share in the country are 5.89%, according to Fmi-Dots data relative to 2017.

Expectations for Amberif and Jubinale

Speaking specifically of the jewelry sector, 33 Italian companies took part in June at the Jewellery exhibition with meetings in Eastern Europe. Over 60 buyers were involved in the event from the markets of Central Eastern Europe, Russia, the Balkans, selected on the basis of their profiles, productions and interests of the companies participating in the two-day exhibit.

Two are the next events with the jewelry world: the Amberif fair (20-23 March 2019) and Jubinale, from 13 to 15 June 2019.

Uncertainties for Brexit

According to the economists of the Pekao Bank, it is possible that Poland’s economic growth will decrease from 5 to 3.5% in 2019. This slowdown will mainly depend on external factors such as the main slowdown of the trading partners, but also the uncertainty generated by Brexit. The main internal factors that will determine the slowdown will instead be due to the weakening of private consumption and lower investment growth. The private spending capacity should be affected by the slowdown in the employment growth rate, which will drop from 3.4% in 2018 to the expected 1.2% in 2019. On the other hand, the inflation rate should remain below the threshold imposed by the ECB, 2.5%, but could go higher at the end of next year. Nevertheless, Poland has shown growth in 2018 both in terms of exports, increased by 6.5% in 10 months, and imports, which increased by 6.3%, for a value of € 109.1 billion.