Davos: business leaders impressed by Poland’s macroeconomic data

President Andrzej Duda, Davos, Switzerland (Jakub Szymczuk, KPRP, Public domain)

Record year for Romanian eCommerce market

Latvian economy with the fastest growth in the Nordic region

Switzerland

“Poland’s strong macroeconomic data, including its expected 2018 GDP growth of around 5 per cent were making a huge impression on business leaders attending the Davos forum,” Poland’s President Andrzej Duda said in interview. “We can stand here with our heads raised high and speak about a splendidly growing country,” Mr. Duda said earlier, at the opening of Polish House pavilion in Davos.

The possibility of Poland’s influence on improving transatlantic relations were among the topics of Poland’s President talks on Wednesday. He also attended a series of debates focused on the future of the EU-US ties. “Our cooperation within the EU should be synergic with our cooperation within NATO. So there must be full compatibility when it comes to (…) expanding military potential,” Poland’s President added.

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Romania

Romanian eCommerce market will grow to EUR3.5bn in 2018 y/y, from EUR2.8bn in 2017, following rapid expansion of online stores, according to calculations compiled by GPeC and based on data supplied by major local online retailers. Online stores in Romania are having one of the fastest growth rates in Central and Southeast Europe in terms of the number of visits from mobile devices, with an average of 41 per cent, according to a study by an eCommerce platform.

However, only 23 per cent of Romanian internet users shopped online in 2017, compared to the EU average of 68 per cent, informed Eurostat. “There are currently 10.26 million eCommerce users in Romania, who spend USD237.38 online annually. Four years from now, an expected 13.76 million Romanian online shoppers will spend approximately USD273.48,” added GPeC.

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Latvia

The Scandinavian banking group SEB, in its latest Nordic Outlook, projected Latvia’s economic growth at 3.5 per cent y/y in 2019 and 3.2 per cent y/y in 2020. SEB informed that Lithuania’s GDP will grow by 2.9 per cent y/y in 2019 and by 2.4 per cent y/y in 2020.

‘Latvia will continue quite a steep growth. The construction sector has become its main drive. The average net monthly wage in Latvia may grow to EUR1,000 in the next two or three years,” Dainis Gaspuitis, an expert of SEB Banka said. ”However the main problem is the tight situation in the labor market that may hamper potential growth as well as weaker demand on export markets,” Mr Gaspuitis added.

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What’s up in indexes

BET (of Bucharest) decreased from 7111.18 index points Tuesday, January 22nd to 7180.28 index points Wednesday, January 23rd. It’s down 0.16 per cent d/d and down 14.89 per cent y/y.

BUX (of Budapest) decreased from 40964.00 index points Tuesday, January 22nd to 40819.00 index points Wednesday, January 23rd. It’s down 0.35 per cent d/d and down 1.68 per cent y/y.

CROBEX (of Zagreb) decreased from 1,761.51 index points Tuesday, January 22nd to 1,755.51 index points Wednesday, January 23rd. It’s down 0.34 per cent d/d and down 3.68 per cent y/y.

OMXR (of Riga) increased from 967.75 index points Tuesday, January 22nd to 975.63 index points Wednesday, January 23rd. It’s up 0.81 per cent d/d and down 5.94 per cent y/y.

OMXT (of Tallinn) decreased from 1223.32 index points Tuesday, January 22nd to 1221.54 index points Wednesday, January 23rd. It’s down 0.15 per cent d/d and down 4.48 per cent y/y.

OMXV (of Vilnius) decreased from 645.35 index points Tuesday, January 22nd to 642.96 index points Wednesday, January 23rd. It’s down 0.37 per cent d/d and down 3.60 per cent y/y.

PX (of Prague) increased from 1016.98 index points Tuesday, January 22nd to 1021.65 index points Wednesday, January 23rd. It’s up 0.46 per cent d/d and down 10.15 per cent y/y.

SAX (of Bratislava) increased from 331.47index points Tuesday, January 22nd to 331.94 index points Wednesday, January 23rd. It’s up 0.14 per cent d/d and down -2.85 per cent y/y.

SOFIX (of Sofia) decreased from 567.10 index points Tuesday, January 22nd to 562.80 index points Wednesday, January 23rd. It’s down 0.76 per cent d/d and down 20.65 per cent y/y.

UX (of Kyiv) closed at 1,710.65 index points Wednesday, January 23rd. It’s the same result as Tuesday’s. It’s 0 per cent change d/d and up 21.08 per cent y/y.

WIG20 (of Warsaw) increased from 2359.23 index points Tuesday, January 22nd to 2407.09 index points Wednesday, January 23rd. It’s up 2.03 per cent d/d and down 8.49 per cent y/y.

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