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  • POLAND'S ECONOMY

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    Main economic indicators [2017]

    Population: 37,9 million

    Real GDP growth: 4,6%

    GDP (current USD): 524.5 billion

    GDP per capita (current USD): 13,414

    CPI: 2%

    Unemployment rate: 4,9%

    Export (USD): 228,2 billion

    Import (USD): 227,8 billion

    Top 5 export markets: Germany, Czech Republic, United Kingdom, France, Italy

    Top 5 import markets: Germany, China, Russia, Italy, France

    Life Expectancy: 82 years (women); 73,9 years (men)

     

     

    The economy of Poland is the eighth largest economy in the European Union, after Germany, United Kingdom, France, Italy, Spain, the Netherlands and Sweden. [Eurostat] The country is classified as high-income economy by World Bank and ranks 23rd worldwide in terms of GDP.

     

    Since economic transformation from state-controlled to market economy started in 1990, Poland has pursued a policy of economic liberalization and its economy was the only one in the EU to avoid a recession through the 2008-2009 economic downturn.

     

    Poland has reached high-income status over a relatively short period of time. The fast and steady expansion of the Polish economy has been a record high in the EU, with GDP growing on average by 4% p.a. over the last 20 years. This resulted in the country doubling its GDP since 1990. According to the World Bank GDP in Poland was worth 524.5 billion US dollars in 2017. This transition benefited from increases in productivity, strengthened institutions, human capital investments, and sound macroeconomic management.

     

    The largest component of Poland’s economy is the service sector (63.2.%), followed by industry (34.4%) and agriculture (2.4%).

     

    Poland shipped US$ 228.2 billion worth of goods around the globe in 2017. The top Polish exports include machinery, electronic equipment, vehicles, furniture, and plastics. The main destination for Polish exports are the EU countries, where 80% of Polish goods are being placed.

     

     

    Find more on Polish economy (in English): Central Statistical Office (macroeconomic indicators), Ministry of Finance (Convergence Reports), European Commission (Economic Forecasts), World Bank

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