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Economy of Poland

Economy of Poland
Warsaw, central business district
CurrencyZłoty (PLN, zł)
Calendar year
Trade organisations
EU, WTO and OECD
Country group
Statistics
PopulationDecrease 38,179,800 (31 March 2021)[4]
GDP
  • Increase $845 billion (nominal, 2024)[5]
  • Increase $1.801 trillion (PPP, 2024)[5]
GDP rank
GDP growth
  • +0.2% (2023)
  • +3.1% (2024)
  • +3.5% (2025)[5]
GDP per capita
  • Increase $23,014 (nominal, 2024)[5]
  • Increase $49,060 (PPP, 2024)[5]
GDP per capita rank
GDP by sector
Positive decrease 5% (2024)[5]
Population below poverty line
  • Positive decrease 11.8% (2022)[6]
  • Positive decrease 15.9% at risk of poverty or social exclusion (2022)[7]
Positive decrease 26.3 low (2022)[8]
Labour force
  • Decrease 18,219,393 (2022)[11]
  • Increase 72.2% employment rate (2018)[12]
Labour force by occupation
Unemployment
  • Positive decrease 2.7% (May 2022)[14]
  • Positive decrease 9.5% youth unemployment (15 to 24 year-olds; July 2020)[15]
Average gross salary
7,767 zł / €1,783 monthly
5,625 zł / €1,291 monthly
Main industries
  • machine building
  • iron and steel
  • mining coal
  • chemicals
  • ship building
  • food processing
  • furniture
  • glass
  • beverages
  • video games
  • textiles
External
ExportsIncrease $411.6 billion (2021 est.)[3]
Export goods
  • machinery and transport equipment 37.8%
  • intermediate manufactured goods 23.7%
  • miscellaneous manufactured articles 17.1%
  • food and live animals 7.6% (2012 est.)
Main export partners
ImportsIncrease $380.6 billion (2021 est.)[3]
Import goods
  • machinery and transport equipment 38.0%
  • intermediate manufactured goods 21.0%
  • chemicals 15.0%
  • minerals, fuels, lubricants and related materials 9.0% (2011 est.)
Main import partners
FDI stock
  • Increase $282.6 billion (31 December 2017 est.)[3]
  • Increase Abroad: $72.87 billion (31 December 2017 est.)[3]
Increase $1.584 billion (2017 est.)[3]
Positive decrease $241 billion (31 December 2017 est.)[3]
Public finances
  • Positive decrease 56.0% of GDP (2021)[18]
  • PLN 1.0 trillion (2019)[18]
  • PLN 16.8 billion deficit (2019)[18]
  • −0.7% of GDP (2019)[18]
Revenues41.3% of GDP (2019)[18]
Expenses42.0% of GDP (2019)[18]
Economic aid
Increase $166.05 billion (31 December 2021 est.)[3]

All values, unless otherwise stated, are in US dollars.

The economy of Poland is an industrialised, mixed economy with a developed market that serves as the sixth-largest in the European Union by nominal GDP and fifth-largest by GDP (PPP).[25] Poland boasts the extensive public services characteristic of most developed economies. Since 1988, Poland has pursued a policy of economic liberalisation but retained an advanced public welfare system. This includes universal free public healthcare and education (including tertiary), extensive provisions of free public childcare, and parental leave. The country is considered by many to be a successful post-communist state. It is classified as a high-income economy by the World Bank,[26] ranking 20th worldwide in terms of GDP (PPP), 21st in terms of GDP (nominal), and 21st in the 2023 Economic Complexity Index.[27]

The largest component of Poland's economy is the service sector (62.3%), followed by industry (34.2%) and agriculture (3.5%). Following the economic reform of 1989, Poland's external debt has increased from $42.2 billion in 1989 to $365.2 billion in 2014. Poland shipped US$224.6 billion worth of goods around the globe in 2017, while exports increased to US$221.4 billion. The country's top export goods include machinery, electronic equipment, vehicles, furniture, and plastics. Poland was the only economy in the EU to avoid a recession through the 2007–08 economic downturn.[28]

As of 2019, the Polish economy had been growing steadily for 28 years, a record high in the EU. This record was only surpassed by Australia in the world economy.[29] GDP per capita at purchasing power parity has grown on average by 6% p.a. over the last 20 years, the highest in Central Europe. Poland's GDP has increased seven-fold since 1990.[30][31][32]

  1. ^ "World Economic and Financial Surveys World Economic Outlook Database—WEO Groups and Aggregates Information April 2020". IMF.org. International Monetary Fund. Archived from the original on 22 December 2019. Retrieved 9 September 2020.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Archived from the original on 28 October 2019. Retrieved 29 September 2019.
  3. ^ a b c d e f g h i "Poland". CIA.gov. Central Intelligence Agency. Retrieved 4 February 2023.
  4. ^ "Population on 31 March 2021". GUS. Archived from the original on 19 October 2019. Retrieved 16 April 2022.
  5. ^ a b c d e f "World Economic Outlook Database, April 2024". IMF.org. International Monetary Fund. Retrieved 25 April 2024.
  6. ^ "Poverty headcount ratio at national poverty lines (% of population)". data.worldbank.org. World Bank. Retrieved 20 December 2023.
  7. ^ "Persons at risk of poverty or social exclusion". ec.europa.eu. Eurostat. Retrieved 20 December 2023.
  8. ^ "Gini coefficient of equivalised disposable income - EU-SILC survey". ec.europa.eu. Eurostat. Retrieved 20 December 2023.
  9. ^ Nations, United. "Human Development Report 2023-24". hdr.undp.org. UNDP. Retrieved 25 April 2024.
  10. ^ Nations, United. "Inequality-adjusted HDI (IHDI)". hdr.undp.org. UNDP. Retrieved 25 April 2024.
  11. ^ "Labor force, total - Poland". data.worldbank.org. World Bank. Retrieved 20 December 2023.
  12. ^ "Employment rate by sex, age group 20-64". ec.europa.eu/eurostat. Eurostat. Archived from the original on 13 August 2019. Retrieved 30 May 2019.
  13. ^ "Pracujący w rolnictwie, przemyśle i usługach | RynekPracy.org".
  14. ^ "Unemployment by sex and age - monthly average". appsso.eurostat.ec.europa.eu. Eurostat. Archived from the original on 9 August 2019. Retrieved 16 July 2022.
  15. ^ "Unemployment rate by age group". data.oecd.org. OECD. Retrieved 20 October 2020.
  16. ^ "Poland - Country Commercial Guide". trade.gov. Retrieved 19 March 2023.
  17. ^ "Poland - Country Commercial Guide". trade.gov. Retrieved 19 March 2023.
  18. ^ a b c d e f "Euro area and EU27 government deficit both at 0.6% of GDP" (PDF). ec.europa.eu/eurostat. Eurostat. Retrieved 28 April 2020.
  19. ^ "European Cohesion Policy in Poland" (PDF). Archived from the original (PDF) on 25 December 2017. Retrieved 25 December 2017.
  20. ^ "European structural and investment funds" (PDF). Archived (PDF) from the original on 20 April 2017. Retrieved 25 December 2017.
  21. ^ "S&P keeps Poland's rating, outlook unchanged". thenews.pl. Archived from the original on 26 December 2017. Retrieved 25 March 2018.
  22. ^ "Moody's changes outlook on Poland's A2 issuer rating to stable from negative; affirms ratings". moodys.com. 12 May 2017. Archived from the original on 24 September 2017. Retrieved 25 March 2018.
  23. ^ "Press Release". www.fitchratings.com. Archived from the original on 23 December 2017. Retrieved 25 March 2018.
  24. ^ Scope Ratings (2 June 2023). "Scope downgrades the Republic of Poland's credit ratings to A; Outlook revised to Stable". Scope Ratings. Retrieved 3 June 2023.
  25. ^ "Report for Selected Countries and Subjects". www.imf.org. Archived from the original on 8 July 2018. Retrieved 25 March 2018.
  26. ^ "WDI 2017 Maps - Data". data.worldbank.org. Archived from the original on 23 June 2018. Retrieved 25 March 2018.
  27. ^ "Complexity rankingsThe Atlas of Economic Complexity". Harvard' Growth Lab Viz Hub. Retrieved 31 October 2020.
  28. ^ "Poland was a". reuters.com. 21 April 2016. Archived from the original on 23 June 2018. Retrieved 25 March 2018.
  29. ^ Shotter, James; Majos, Agata (9 October 2019). "Poland election: the unfinished counter-revolution". Financial Times. Archived from the original on 3 December 2019. Retrieved 9 October 2019.
  30. ^ "'This is the golden age': eastern Europe's extraordinary 30-year revival". theguardian.com. 27 October 2019. Archived from the original on 10 December 2019. Retrieved 27 October 2019.
  31. ^ Frączyk, Jacek (7 December 2017). "Wzrostem PKB Polska zostawia Europę daleko z tyłu. Najnowsze dane Eurostatu". money.pl. Archived from the original on 23 June 2018. Retrieved 25 March 2018.
  32. ^ "FTSE Russell upgrades Poland from emerging to developed market". thenews.pl. Archived from the original on 30 November 2018. Retrieved 25 March 2018.

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