Gulf of Opportunities

Current and projected high prices of oil and gas may herald a further increase in Poland’s trade with the Gulf States. Other factors conducive to this include positive results in the fight against the coronavirus epidemic in the region, macroeconomic stabilisation, good economic growth prospects and a growing number of Polish enterprises who are not afraid of expanding into these markets

The “30 years of Polish export” report, recently prepared by SpotData analytical centre for KUKE’s 30th anniversary, shows that in the years 2001-2020 the export of goods to the Middle East increased more than tenfold, from approx. USD 0.5 billion to USD 5.1 billion, and their share in Polish exports grew from 1.2 to 2.2%. This is obviously still not much when compared, e.g. to Hungary, which has a 2.5% share all by itself. Potentially, however, this is a very promising market, considering for example the number of inhabitants; the populations of Turkey and Iran exceed 80 million and Saudi Arabia 34 million.