Poland’s trade surplus in goods with Ukraine reached a record high of €9.7 billion in May 2026, according to the Bank of National Economy (BGK). Polish exports to Ukraine rose from approximately €5.2 billion in December 2020 to €14.1 billion, an increase of almost 169%.
Briefly about the main points
- The BGK has described Poland’s trade surplus with Ukraine as a record €9.7 billion.
- Polish exports to Ukraine have risen by almost 1,69% since the end of 2020.
- Imports of Ukrainian goods into Poland increased by almost 72%.
- Poland accounted for 29.5% of EU exports to Ukraine.
The figures were calculated over a 12-month period
Analysis BGK, compiled on the basis of Eurostat statistics, uses 12-month moving totals. In other words, €14.1 billion represents the value of exports over the 12 months ending in May 2026, rather than the volume of exports for May alone.
Over the same period under comparison, Poland’s trade surplus rose from approximately €2.7 billion at the end of 2020 to €9.7 billion. BGK described this figure as a record high.
Imports from Ukraine grew at a slower rate
The value of goods imported from Ukraine to Poland rose from approximately €2.5 billion to €4.4 billion, an increase of almost 72%. The faster growth in Polish exports resulted in a significantly larger bilateral trade surplus.
The ratio of the trade surplus to the value of Polish exports to Ukraine during this period rose from 51.7% to 69.1%.
Poland has retained its top spot among EU exporters
Poland’s share of total EU exports to Ukraine rose from 22.7% at the end of 2020 to 29.5% in May 2026. This secured it first place amongst EU countries in the Ukrainian market.
Germany comes second with a share of 18.5%; the analysis goes on to mention Hungary, the Czech Republic and Italy. According to BGK’s estimates, around 53.4% of the increase in Polish exports between February 2022 and May 2026 was attributable to energy resources and power, arms and ammunition, and aviation equipment.
According to the bank’s estimates, non-military industrial goods generated a trade surplus of around €5.1 billion for Poland in its trade with Ukraine.
