Economy of Poland

The economy of Poland is the seventh largest economy in the European Union and the largest among the former Eastern Bloc members of the European Union.[17] Since 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 2007-2008 economic downturn.[18] In all, as of 2017 the Polish economy has been growing steadily for the past 26 years, a record high in the EU. Such growth has been exponential, with GDP per capita at purchasing power parity growing on average by 6% p.a. over the last 20 years, the most impressive performance in Central Europe resulting in the country doubling its GDP since 1990.

Poland is classified as high-income economy by World Bank[19] and ranks 23rd worldwide in terms of GDP as well as 24th in the 2017 Ease of Doing Business Index. Poland has a highly diverse economy that ranks 21st in the 2016 Economic Complexity Index.The largest component of its economy is the service sector (62.3.%), followed by industry (34.2%) and agriculture (3.5%). With the economic reform of 1989 the Polish external debt increased from $42.2 billion in 1989 to $365.2 billion in 2014. Poland shipped US$198.2 billion worth of goods around the globe in 2015, up by 5.4% since 2011 and down 7.6% from 2014 to 2015. In 2017, Polish exports increased to US$221.4 billion. The country's top export goods include machinery, electronic equipment, vehicles, furniture, and plastics.

According to the Central Statistical Office of Poland, in 2010 the Polish economic growth rate was 3.7%, which was one of the best results in Europe. In 2014 its economy grew by 3.3% and in 2015 by 3.8%. Although in 2016 economic growth slowed, government stimulus measures combined with a tighter labour market in late 2016 kick-started new growth, which in 2017 the Polish Central Statistics Office states to be 5.2%.[20]

On 29 September 2017, the index provider FTSE Russell announced the results of the annual classification of markets. The Polish market has been upgraded from an emerging market to developed market status.[21]

Economy of Poland
Downtown Warsaw
Currency1 złoty (PLN) = 100 groszy
Calendar year
Trade organisations
EU, WTO and OECD
Statistics
GDPIncrease $586.015 billion (nominal, 2018)[1]
Increase $1,212 trillion (PPP, 2018)[1]
GDP rank21st (nominal, 2018)
22nd (PPP, 2018)
GDP growth
3.1% (2016) 4.8% (2017)
5.1% (2018e) 4.0% (2019f)[2]
GDP per capita
Increase $15,430 (nominal, 2018)[1]
Increase $31,938 (PPP, 2018)[1]
GDP per capita rank
54th (nominal, 2018)
43rd (PPP, 2018)
GDP by sector
agriculture: 2.4%
industry: 40.2%
services: 57.4% (2017 est.)[3]
1.960% (2019 est.)[1]
1.600% (2018)[1]
1.975% (2017)[1]
Population below poverty line
Positive decrease 19.5% at risk of poverty or social exclusion (2017)[4]
Positive decrease 29.2 Low (2017, Eurostat)[5]
Labour force
17.6 million (2017 est.)[3]
Labour force by occupation
agriculture: 11.5%
industry: 30.4%
services: 57.6% (2015)[3]
UnemploymentPositive decrease 3.6% (2019 est.)[6]
Average gross salary
PLN 5,275 / €1,229 / $1,396 monthly (December 2018)[7]
Main industries
  • machine building
  • iron and steel
  • mining coal
  • chemicals
  • ship building
  • food processing
  • glass
Decrease 33rd (DB 2019 Rank)[8]
External
ExportsIncrease $224.6 billion (2017 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
 Germany 27.4%
 Czech Republic 6.4%
 United Kingdom 6.4%
 France 5.6%
 Italy 4.9%
 Netherlands 4.4%
ImportsIncrease $223.8 billion (2017 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
 Germany 27.9%,
 China 8.0%
 Russia 6.4%
 Netherlands 6.0%
 Italy 5.3%
 France 4.2%
 Czech Republic 4.0%
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 47.5% of GDP (2019 est.)[9]
−2.2% of GDP (2019 est.)[10]
Revenues207.5 billion (2017 est.)[3]
Expenses216.2 billion (2017 est.)[3]
Economic aid€67 billion from European Structural and Investment Funds (2007–2013)[11]
€86 billion from European Structural and Investment Funds (2014–2020)[12]
Foreign reserves
Decrease $113.3 billion (31 December 2017 est.)[3]
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.

History

Poland has seen the largest increase in GDP per capita (more than 100%) both among the former Soviet-bloc countries, and compared to the EU-15 (around 45%).[22] It has had uninterrupted economic growth since 1992, even after the 2007 financial crisis.[23]

Before 1989

This article discusses the economy of the current Poland, post-1989. For historical overview of past Polish economies, see:

1990-2009

The Polish state steadfastly pursued a policy of economic liberalization throughout the 1990s, with positive results for economic growth but negative results for some sectors of the population. The privatization of small and medium state-owned companies and a liberal law on establishing new firms has encouraged the development of the private business sector, which has been the main drive for Poland's economic growth. The agricultural sector remains handicapped by structural problems, surplus labor, inefficient small farms, and a lack of investment. Restructuring and privatization of "sensitive sectors" (e.g. coal), has also been slow, but recent foreign investments in energy and steel have begun to turn the tide. Recent reforms in health care, education, the pension system, and state administration have resulted in larger than expected fiscal pressures. Improving this account deficit and tightening monetary policy, with focus on inflation, are priorities for the Polish government. Further progress in public finance depends mainly on the reduction of public sector employment, and an overhaul of the tax code to incorporate farmers, who currently pay significantly lower taxes than other people with similar income levels.

Since the 2009 financial crisis

Since the global recession of 2009, Poland's GDP continued to grow. In 2009, at the high point of the crisis, the GDP for the European Union as a whole dropped by 4.5% while Polish GDP increased by 1.6%. As of November 2013, the size of EU's economy remains below the pre-crisis level, while Poland's economy increased by a cumulative 16%. The major reasons for its success appear to be a large internal market (in terms of population is sixth in EU) and a business friendly political climate. The economic reforms implemented after the fall of socialism in the 1990s have also played a role; between 1989 and 2007 Poland's economy grew by 177%, faster than other countries in Eastern and Central Europe, while at the same time millions were left without work.[23]

However, the economic fluctuations of the business cycle did affect Poland's unemployment rate, which by early 2013 reached almost 11%. This level was still below European average and has begun falling subsequently.[24] As of October 2017, Poland's unemployment rate stood at 4.6% according to Eurostat.[25]

Data

The following table shows the main economic indicators in 1980–2018. Inflation under 2% is in green.[26]

Year GDP
(in Bil. US$ PPP)
GDP per capita
(in US$ PPP)
GDP growth
(real)
Inflation rate
(in Percent)
Unemployment
(in Percent)
Government debt
(in % of GDP)
1980 168.7 4,744 Decrease−6.0 % Negative increase9.4 % n/a n/a
1981 Decrease166.0 Decrease4,626 Decrease−10.0 % Negative increase21.2 % n/a n/a
1982 Increase167.8 Increase4,633 Decrease−4.8 % Negative increase100.8 % n/a n/a
1983 Increase184.2 Increase5,014 Increase5.6 % Negative increase22.1 % n/a n/a
1984 Increase190.0 Increase5,129 Decrease−0.4 % Negative increase75.6 % n/a n/a
1985 Increase203.7 Increase5,456 Increase3.9 % Negative increase15.1 % n/a n/a
1986 Increase215.0 Increase5,725 Increase3.5 % Negative increase17.8 % n/a n/a
1987 Increase225.6 Increase5,976 Increase2.3 % Negative increase25.3 % n/a n/a
1988 Increase241.2 Increase6,382 Increase3.3 % Negative increase25.3 % n/a n/a
1989 Increase260.1 Increase6,876 Increase3.8 % Negative increase251.1 % n/a n/a
1990 Decrease250.4 Decrease6,557 Decrease−7.2 % Negative increase585.8 % 6.3 % n/a
1991 Decrease240.6 Decrease6,283 Decrease−7.0 % Negative increase70.3 % Negative increase11.8 % n/a
1992 Increase251.1 Increase6,541 Increase2.0 % Negative increase43.0 % Negative increase13.6 % n/a
1993 Increase268.1 Increase6,962 Increase4.3 % Negative increase35.3 % Negative increase16.4 % n/a
1994 Increase288.1 Increase7,467 Increase5.2 % Negative increase32.2 % Positive decrease11.4 % n/a
1995 Increase313.9 Increase8,136 Increase6.7 % Negative increase27.9 % Negative increase13.3 % 48.7 %
1996 Increase339.6 Increase8,795 Increase6.2 % Negative increase19.9 % Positive decrease12.3 % Positive decrease43.1 %
1997 Increase369.9 Increase9,572 Increase7.1 % Negative increase14.9 % Positive decrease11.2 % Positive decrease42.7 %
1998 Increase392.5 Increase10,153 Increase5.0 % Negative increase11.8 % Positive decrease10.6 % Positive decrease38.7 %
1999 Increase416.5 Increase10,772 Increase4.5 % Negative increase7.3 % Negative increase13.1 % Negative increase39.3 %
2000 Increase444.2 Increase11,608 Increase4.3 % Negative increase10.1 % Negative increase16.1 % Positive decrease36.4 %
2001 Increase459.8 Increase12,018 Increase1.2 % Negative increase5.5 % Negative increase18.2 % Negative increase37.1 %
2002 Increase473.6 Increase12,383 Increase1.4 % Increase1.9 % Negative increase19.9 % Negative increase41.5 %
2003 Increase500.2 Increase13,088 Increase3.6 % Increase0.8 % Positive decrease19.6 % Negative increase46.3 %
2004 Increase540.3 Increase14,149 Increase5.5 % Negative increase3.5 % Positive decrease19.0 % Negative increase46.4 %
2005 Increase577.2 Increase15,121 Increase3.5 % Negative increase2.1 % Positive decrease17.7 % Steady46.4 %
2006 Increase631.7 Increase16,556 Increase6.2 % Increase1.0 % Positive decrease13.8 % Negative increase46.9 %
2007 Increase694.2 Increase18,207 Increase7.0 % Negative increase2.5 % Positive decrease9.6 % Positive decrease44.2 %
2008 Increase737.9 Increase19,358 Increase4.3 % Negative increase4.2 % Positive decrease7.1 % Negative increase46.3 %
2009 Increase764.4 Increase20,045 Increase2.8 % Negative increase3.5 % Negative increase8.2 % Negative increase49.4 %
2010 Increase801.7 Increase21,083 Increase3.6 % Negative increase2.6 % Negative increase9.6 % Negative increase53.1 %
2011 Increase859.3 Increase22,575 Increase5.0 % Negative increase4.3 % Steady9.6 % Negative increase54.1 %
2012 Increase889.2 Increase23,377 Increase1.6 % Negative increase3.7 % Negative increase10.1 % Positive decrease53.7 %
2013 Increase916.1 Increase24,119 Increase1.4 % Increase0.9 % Negative increase10.3 % Negative increase55.7 %
2014 Increase963.2 Increase25,442 Increase3.3 % Increase0.0 % Positive decrease9.0 % Positive decrease50.2 %
2015 Increase1,011.0 Increase26,688 Increase3.8 % Positive decrease−0.9 % Positive decrease7.5 % Negative increase51.1 %
2016 Increase1,053.3 Increase27,834 Increase3.1 % Positive decrease−0.6 % Positive decrease6.2 % Negative increase54.2 %
2017 Increase1,121.0 Increase29,722 Increase4.8 % Increase2.0 % Positive decrease4.9 % Positive decrease50.6 %
2018 Increase1,212.9 Increase31,939 Increase5.1 % Increase1.6 % Positive decrease3.8 % Positive decrease48.4 %

Labour market and wages

Poland GDP PPP 1980-2014
GDP (PPP) of Poland
Unemployment in Poland and Europe
Unemployment rate in Poland in 1997-2014
Minwages poland former communist
Minimum wages in former real socialist countries in Europe, in Euros per month. Poland, at the far right

Unemployment in Poland appeared after the fall of socialism, although the economy previously had high levels of hidden unemployment. The unemployment rate then fell to 10% by the late 1990s and then increased again in the first few years of the 21st century, reaching a peak of 20% in 2002. It has since decreased, although unevenly. Since 2008 the unemployment rate in Poland has consistently been below European average.[27]

The rate fell below 8% in 2015,[28] leading to the possibility of a labor deficit.[29]

Foreign trade and FDI

With the collapse of the rouble-based COMECON trade bloc in 1991, Poland reoriented its trade. As early as 1996, 70% of its trade was with EU members. Neighboring Germany is Poland's main trading partner today. Poland joined the European Union in May 2004. Before that, it fostered regional integration and trade through the Central European Free Trade Agreement (CEFTA), which included Hungary, the Czech Republic, Slovakia and Slovenia.

Poland is a founding member of the World Trade Organization.[30] As a member of the European Union, it applies the common external tariff to goods from other countries including the United States. Poland's major imports are capital goods needed for industrial retooling and for manufacturing inputs. The country's exports also include machinery, but are highly diversified. The most successful exports are furniture, foods,[31] motor boats, light planes, hardwood products, casual clothing, shoes and cosmetics.[32] Germany is by far the biggest importer of Poland's exports as of 2013.[33] In the agricultural sector, the biggest money-makers abroad include smoked and fresh fish, fine chocolate, and dairy products, meats and specialty breads,[34] with the exchange rate conducive to export growth.[35] Food exports amounted to 62 billion złoty in 2011, increasing by 17% from 2010.[36] Most Polish exports to the U.S. receive tariff benefits under the Generalized System of Preferences (GSP) program.

Poland is less dependent on external trade than most other Central and Eastern European countries, but its volume of trade with Europe is still substantial. In 2011 the volume of trade (exports plus imports) with the Euro area as share of GDP was 40%, a doubling from the mid 1990s. 30% of Poland's exports are to Germany and another 30% to the rest of Europe. There has been substantial increase in Poland's exports to Russia.[37] However, in August 2014, exports of fruits and vegetables to Russia fell dramatically following its politically motivated ban by Moscow.[38]

Foreign direct investment (FDI) was at 40% of GDP in 2010, a doubling over the level in 2000. Most FDI into Poland comes from France, Germany and Netherlands. Polish firms in turn have foreign investments primarily in Italy and Luxembourg. Most of the internal FDI is in manufacturing, which makes it susceptible to economic fluctuations in the source countries.[37]

The UAE has become Poland's largest trading partner in the Arab world, said Roman Chalaczkiewicz, Polish Ambassador to the UAE, speaking to Gulf News.[39]

Polish law is rather favourable to foreign entrepreneurs. The government offers investors various forms of state aid, such as: CIT tax at the level of 19% and investment incentives in 14 Special Economic Zones (among others: income tax exemption, real estate tax exemption, competitive land prices), several industrial and technology parks, the possibility to benefit from the EU structural funds, brownfield and greenfield locations. According to the National Bank of Poland (NBP) the level of FDI inflow into Poland in 2006 amounted to €13.9 billion.

According to an Ernst & Young report, Poland ranks 7th in the world in terms of investment attractiveness. However, Ernst & Young's 2010 European attractiveness survey reported that Poland saw a 52% decrease in FDI job creation and a 42% decrease in number of FDI projects since 2008.[40] According to the OECD (www.oecd.org) report, in 2004 Poles were one of the hardest working nations in Europe. Yet, the ability to establish and conduct business easily has been cause for economic hardship; the 2010 the World Economic Forum ranked Poland near the bottom of OECD countries in terms of the clarity, efficiency and neutrality of the legal framework used by firms to settle disputes.[41]

Sectors

Production industries

Gielda3 Wwa beax
Warsaw Stock Exchange is the largest stock exchange in East and Central Europe
Płock, Orlen, budynek biurowy
PKN Orlen is among the largest companies in Poland
Container terminals in Gdynia
Port of Gdynia is one of Poland's principal seaports

Before World War II, Poland's industrial base was concentrated in the coal, textile, chemical, machinery, iron, and steel sectors. Today it extends to fertilizers, petrochemicals, machine tools, electrical machinery, electronics, car manufacture and shipbuilding.

Poland's industrial base suffered greatly during World War II, and many resources were directed toward reconstruction. The socialist economic system imposed in the late 1940s created large and unwieldy economic structures[42] operated under a tight central command. In part because of this systemic rigidity, the economy performed poorly even in comparison with other economies in Central Europe.[42]

In 1990, the Tadeusz Mazowiecki government began a comprehensive reform programme to replace the centralised command economy with a market-oriented system. While the results overall have been impressive, many large state-owned industrial enterprises, particularly the rail, mining, steel, and defence sectors, have remained resistant to change and the downsizing required to survive in a market-based economy.[42]

Pharmaceutics

The total value of the Polish pharmacy market in 2008 was PLN 24.1bn, 11.5% more than in 2007.[43]

The non-prescription medicines market, which accounts for about one-third of the total market value, was worth PLN 7.5bn in 2008. This value includes drugs and non-drugs such as dietary supplements, cosmetics, dressings, dental materials, diagnostic tests and medical devices. The prescription medicines market was worth PLN 15.8bn.[44]

Agriculture

Agriculture employs 12.7% of the work force but contributes 3.8% to the gross domestic product (GDP), reflecting relatively low productivity. Unlike the industrial sector, Poland's agricultural sector remained largely in private hands during the decades of real socialist rule. Most of the former state farms are now leased to farmer tenants. Lack of credit is hampering efforts to sell former state farmland. Currently, Poland's 2 million private farms occupy 90% of all farmland and account for roughly the same percentage of total agricultural production. Farms are small—8 hectares on average—and often fragmented. Farms with an area exceeding 15 ha accounted for 9% of the total number of farms but cover 45% of total agricultural area. Over half of all farm households in Poland produce only for their own needs with little, if any, commercial sales.

Poland is a net exporter of processed fruit and vegetables, meat, and dairy products. Processors often rely on imports to supplement domestic supplies of wheat, feed grains, vegetable oil, and protein meals, which are generally insufficient to meet domestic demand. However, Poland is the leading EU producer of potatoes and rye and is one of the world's largest producers of sugar beets and triticale. Poland also is a significant producer of rapeseed, grains, hogs, and cattle. Poland is the sixth largest producer and exporter of apples in the entire world.[45]

Tourism

Poland, especially after joining the European Union in 2004, became a place frequently visited by tourists. Most tourist attractions in Poland are connected with natural environment, historic sites and cultural events. They draw millions of tourists every year from all around the world. According to Tourist Institute's data, Poland was visited by 15.7 million tourists in 2006, and by 15 million tourists in 2007,[46] out of the total number of 66.2 million foreign visitors.[47] In 2016 the number of arrivals to Poland amounted to 80.5 million. 17.5 million of this number are arrivals considered for tourism purposes (with at least one night's stay), making it the 16th most visited country in the world.[48] The most popular cities are Kraków, Warsaw, Gdańsk, Wrocław, Łódź, Poznań, Szczecin, Lublin, Toruń, Sopot, Zakopane and the Wieliczka Salt Mine. The best recreational destinations include Poland's Masurian Lake District, Baltic Sea coast, Tatra Mountains (the highest mountain range of Carpathians), Sudetes and Białowieża Forest. Poland's main tourist offers consist of sightseeing within cities and out-of-town historical monuments, business trips, qualified tourism, agrotourism, mountain hiking (trekking) and climbing among others.

Financial sector

The Polish banking sector is regulated by the Polish Financial Supervision Authority (PFSA).

While transforming the country to a market-oriented economy during 1992–97, the government privatized some banks, recapitalized the rest and introduced legal reforms that made the sector competitive. These reforms, and the health and relative stability of the sector, attracted a number of strategic foreign investors. At the beginning of 2009, Poland's banking sector had 51 domestic banks, a network of 578 cooperative banks and 18 branches of foreign-owned banks. In addition, foreign investors had controlling stakes in nearly 40 commercial banks, which made up 68% of the banking capital.[49] Banks in Poland reacted to the financial crisis of 2009 by restraining lending, raising interest rates, and strengthening balance sheets. Subsequently, the sector started lending again, with an increase of more than 4% expected in 2011.

Transportation

Poland is served by an extensive network of railways. In most cities the main railway station is located near a city centre and is well connected to the local transportation system. The infrastructure is operated by Polish State Railways, part of state-run PKP Group. The rail network is very dense in western and northern Poland, while eastern part of the country is less developed. The capital city, Warsaw, has the country's only rapid transit system: the Warsaw Metro.

The most important airport in Poland is Warsaw 'Frederic Chopin' International Airport. Warsaw's airport is the main international hub for LOT Polish Airlines. In addition to Warsaw Chopin, Wrocław, Gdańsk, Katowice, Kraków and Poznań all have international airports. In preparation for the Euro 2012 football championships jointly hosted by Poland and Ukraine, a number of airports around the country were renovated and redeveloped. This included the building of new terminals with an increased number of jetways and stands at both Copernicus Airport in Wrocław and Lech Wałęsa Airport in Gdańsk.

Poland has 412,264 km (256,170 mi) of public roads overall. Polish public roads are grouped into categories related to administrative division, which include National roads, Voivodeship roads, Powiat roads and Gmina roads. Motorways and expressways are part of the national road network. As of 10 January 2016, there are 3,274.67 km (2,034.79 mi) of motorways (autostrady, singular - autostrada) and expressways (drogi ekspresowe, singular - droga ekspresowa) in use.

Major Polish companies

Selection from the list of 500 largest companies in Poland compiled by magazine Polityka.[50]

Budget and debt

Pl-public-debt
Public debt level of Poland in % of GDP

The public and private debt levels of Poland are below the European average (2017).

GDP growth in Poland

2014 Poland Products Export Treemap
Poland Products Export Treemap (2014)

Recent GDP growth (comparing to the same quarter of previous year):[51]

Year Q1 Q2 Q3 Q4 Overall
2018 5.2% 5.1% 5.7%
2017 4.4% 4.3% 5.2% 4.3% 4.6%
2016 2.7% 2.2% 2.3% 3.2% 2.9%
2015 3.9% 3.4% 3.8% 4.2% 3.8%
2014 3.1% 3.1% 3.2% 3.6% 3.3%
2013 0.1% 1.3% 1.7% 2.2% 1.4%
2012 3.7% 2.1% 1.2% 0.0% 1.6%
2011 5.2% 5.1% 5.1% 4.8% 5.0%
2010 2.5% 3.6% 4.4% 4.1% 3.7%
2009 2.1% 1.9% 2.0% 4.1% 2.6%
2008 5.8% 5.0% 4.0% 1.2% 3.9%
2007 7.5% 7.5% 6.4% 7.4% 7.2%
2006 5.0% 6.0% 6.4% 7.1% 6.2%
2005 3.1% 2.3% 4.7% 4.0% 3.5%
2004 6.8% 5.7% 3.7% 4.5% 5.1%
2003 2.0% 3.8% 4.1% 4.3% 3.6%
2002 0.4% 1.3% 1.7% 2.4% 1.4%

See also

External links

References

  1. ^ a b c d e f g "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 10 April 2019.
  2. ^ "Spring 2019 Europe and Central Asia Economic Update "Financial Inclusion" p. 9" (PDF). openknowledge.worldbank.org. World Bank. Retrieved 10 April 2019.
  3. ^ a b c d e f g h i j k l "The World Factbook". CIA.gov. Central Intelligence Agency. Retrieved 4 February 2019.
  4. ^ "People at risk of poverty or social exclusion". ec.europa.eu. Eurostat. Retrieved 6 May 2019.
  5. ^ "Gini coefficient of equivalised disposable income - EU-SILC survey". ec.europa.eu. Eurostat. Retrieved 10 February 2019.
  6. ^ https://www.imf.org/external/datamapper/LUR@WEO/OEMDC/ADVEC/WEOWORLD
  7. ^ https://dziennikbaltycki.pl/ile-wynosi-srednia-krajowa-placa-2019-ile-zarabia-sie-srednio-w-polsce-wynagrodzenia-przekroczyly-5-tys-zl-brutto-dane-gus/ar/c10-14062347
  8. ^ "Doing Business in Poland - World Bank Group". www.doingbusiness.org. Retrieved 10 April 2019.
  9. ^ https://www.imf.org/external/datamapper/GGXWDG_NGDP@WEO/OEMDC/ADVEC/WEOWORLD
  10. ^ https://www.imf.org/external/datamapper/GGXCNL_NGDP@WEO/OEMDC/ADVEC/WEOWORLD
  11. ^ http://ec.europa.eu/regional_policy/sources/docgener/informat/country2009/pl_en.pdf
  12. ^ http://ec.europa.eu/regional_policy/sources/policy/what/investment-policy/esif-country-factsheet/esi_funds_country_factsheet_pl_en.pdf
  13. ^ "S&P keeps Poland's rating, outlook unchanged". thenews.pl. Retrieved 25 March 2018.
  14. ^ "Moody's changes outlook on Poland's A2 issuer rating to stable from negative; affirms ratings". moodys.com. 12 May 2017. Retrieved 25 March 2018.
  15. ^ "Press Release". www.fitchratings.com. Retrieved 25 March 2018.
  16. ^ Scope Ratings (20 July 2018). "Scope affirms Poland's credit rating of A+ with Stable Outlook". Scope Ratings. Retrieved 20 July 2018.
  17. ^ "Report for Selected Countries and Subjects". www.imf.org. Retrieved 25 March 2018.
  18. ^ Editorial, Reuters. "Poland was a". reuters.com. Retrieved 25 March 2018.
  19. ^ "WDI 2017 Maps - Data". data.worldbank.org. Retrieved 25 March 2018.
  20. ^ Frączyk, Jacek (7 December 2017). "Wzrostem PKB Polska zostawia Europę daleko z tyłu. Najnowsze dane Eurostatu". money.pl. Retrieved 25 March 2018.
  21. ^ "FTSE Russell upgrades Poland from emerging to developed market". thenews.pl. Retrieved 25 March 2018.
  22. ^ Piatkowski, Marcin. "How Poland Became Europe's Growth Champion: Insights from the Successful Post-Socialist Transition". brookings.edu. Retrieved 25 March 2018.
  23. ^ a b "The Next Economic Powerhouse? Poland - BusinessDay : News you can trust". businessdayonline.com. 5 July 2017. Retrieved 25 March 2018.
  24. ^ "Poland has employee's market: minister". thenews.pl. Retrieved 25 March 2018.
  25. ^ "File:Unemployment rates, seasonally adjusted, October 2017 (%) F2.png - Statistics Explained". ec.europa.eu. Retrieved 25 March 2018.
  26. ^ "Report for Selected Countries and Subjects". www.imf.org. Retrieved 12 April 2019.
  27. ^ "File:Unemployment rates, seasonally adjusted, October 2015.png - Statistics Explained". ec.europa.eu. Retrieved 25 March 2018.
  28. ^ "Unemployment statistics - Statistics Explained". ec.europa.eu. Retrieved 25 March 2018.
  29. ^ Internet, JSK. "Poland facing risk of labor force deficit in 2015". msp.gov.pl. Retrieved 25 March 2018.
  30. ^ "Poland: June 2000". Trade Policy Reviews. World Trade Organization. 26 June 2000. Retrieved 21 May 2014.
  31. ^ PAP, 9 May 2013 Polska żywność - fundament polskiego eksportu - 2012 kolejnym rokiem rekordowego eksportu żywności. Ministerstwo Skarbu Państwa (Internet Archive).
  32. ^ GUS, Najwięksi partnerzy handlowi Polski: kto kupuje nasze produkty? 9 July 2014 (Internet Archive)
  33. ^ Ministerstwo Gospodarki, Polska - kierunki eksportu i najchętniej kupowane produkty z naszego kraju. 8 December 2013 Euro-Dane :: Ekonomia Unii Europejskiej (Internet Archive). Most important importers of Poland's 2012 exports, graph. Archived 6 November 2014 at the Wayback Machine Manifo.
  34. ^ Patrycja Maciejewicz, Leszek Baj, Polska żywność jedzie w świat. Pełno niespodzianek 2012-04-07, Wyborcza.biz (Internet Archive).
  35. ^ PAP, Więcej niż 80 proc. eksportu żywności z Polski to przetworzone produkty spożywcze 10-10-2014 Portal Spozywczy.pl (Internet Archive).
  36. ^ Wiesław Łopaciuk, Padł rekord wartości eksportu produktów rolno-spożywczych z Polski. Powód: słaby złoty Rzeczpospolita, 27-01-2012 (Internet Archive). "Z analizy "Rzeczpospolitej" wynika, że łączna wartość eksportu produktów rolno-spożywczych Polski mogła w 2011 r. sięgnąć 62 mld zł. W porównaniu z 2010 r. była o niemal 17 proc. wyższa."
  37. ^ a b Ho, Giang (July 2012). "Republic of Poland. Selected Issues" (PDF). IMF Country Report. 12 (163).
  38. ^ http://www.channelnewsasia.com/news/world/ban-on-food-imports-due/1297280.html
  39. ^ UAEinteract.com. "UAE is Poland's largest Arab trading partner". Uaeinteract.com. Archived from the original on 17 September 2011. Retrieved 25 May 2011.
  40. ^ Schwab, Klaus. "The Global Competitiveness Report 2010-2011" (PDF). World Economic Forum. Retrieved 25 April 2011.
  41. ^ "Waking up to the new economy: Ernst & Young's 2010 European attractiveness survey" (PDF). Ernst & Young. Archived from the original (PDF) on 4 July 2010. Retrieved 25 April 2011.
  42. ^ a b c "Poland (11/07)". US Department of State. Retrieved 25 September 2013.
  43. ^ KPMG. "The Polish Pharmaceutical Market" (PDF). Yieldopedia. Retrieved 7 June 2018.
  44. ^ "Polish pharmaceutical market". Pharmapoland.com. Retrieved 25 May 2011.
  45. ^ Top 10 apple-producing countries in the world. WhichCountry.co, General Knowledge.
  46. ^ Information about tourism in Poland (in Polish). Archived 16 April 2013 at Archive.today Source: Instytut Turystyki, 2008.
  47. ^ GUS (2008). "Przyjazdy do Polski (Foreign visits to Poland)". Statistics (in Polish). Instytut Turystyki. Archived from the original on 25 December 2012. Retrieved 31 December 2012.
  48. ^ "International tourism, number of arrivals - Country Ranking". Retrieved 28 October 2017.
  49. ^ Wprost (9 November 2011). "Belka: polskie banki znów powinny być polskie". 70 proc. polskiego systemu bankowego jest własnościowo zdominowane przez banki zagraniczne. Biznes: Polityka i gospodarka, Wprost.pl. Archived from the original (Internet Archive) on 12 November 2014. Retrieved 12 November 2014. w Polsce nie zbudowano by nowoczesnego systemu bankowego [bez akcjonariuszy zagranicznych, stwierdził Prezes NBP. Bez nich] Polska nie uniknęłaby kryzysu bankowego — Marek Belka, prezes Narodowego Banku Polskiego.
  50. ^ a b "500 largest companies in Poland". Lista500.polityka.pl. Polityka. Retrieved 25 May 2011.
  51. ^ "Quarterly National Accounts : Quarterly Growth Rates of real GDP, change over previous quarter". Stats.oecd.org. Retrieved 1 June 2014.
Eastern Poland

This article is about the modern eastern Poland. For the region that was annexed by the Soviet Union in 1945, see Kresy.

Eastern Poland is a macroregion in Poland comprising Lublin, Podkarpackie, Podlaskie, Świętokrzyskie and Warmian-Masurian voivodeships.

The make-up of the distinct macroregion is based not only of geographical criteria, but also economical: in 2005, these five voivodeships has the lowest GDP per capita in the enlarged European Union. On this basis, the macroregion is subject to special additional support with European funds under the Eastern Poland Economic Promotion Programme over 2007–2013.In 2012–2013, the macroregion was the subject of an advertising campaign, Why didn't you invest in Eastern Poland?, which was to raise awareness of and increase investment in the region.

Exclusive economic zone of Poland

The Polish Exclusive Economic Zone (Polish EEZ) has the area of 30,533 km2. within the Baltic Sea.It includes the following bathymetric basins: Bornholm Basin (part, max. depth 95 m within Polish EEZ), Slupsk Furrow (complete, max. depth 93 m), Gotland Basin (part,max. depth 120 m within Polish EEZ ), and Gdansk Basin (part, max. depth 107 m within Polish EEZ). There are a number of shoals between the basins and the Polish coast, including Odra Bank (min.

depth 4.5 m), Slupsk Bank (min. depth 8 m), Stilo Bank (min. depth 18 m) and Southern Middle Bank (min. depth 14 m).Of mineral resources within the Polish EEZ, best recognized are gravel and sand deposits.

GreenEvo

GreenEvo - Accelerator of Green Technologies is a project of the Poland’s Ministry of Environment aimed at international transfer of environmentally friendly technologies developed in Poland. Within the project, the best Polish companies are selected and awarded with promotional and financial support. There have already been 62 innovative Polish companies awarded, in such areas of technologies for wastewater and hazardous waste treatment and solutions that support the use of renewable energy sources, for example agricultural machinery for the manufacture of wood briquettes and solar panels.GreenEvo - Green Technology Accelerator is organized by the Ministry of the Environment with other partners, namely: National Fund for Environmental Protection and Water Management, Ministry of Economy, Ministry of Foreign Affairs, Ministry of Science and Higher Education, Polish Agency for Enterprise Development, Polish Confederation of Private Employers ‘Lewiatan’, Faculty of Management, University of Warsaw. GreenEvo was nominated to the finals of the European Public Sector Award 2013.In 2015, the 6th edition of GreenEvo was announced, with main topic to be technologies for waste management, especially supporting local level authorities.

Kostrzyn–Słubice Special Economic Zone

The Kostrzyn–Slubice Special Economic Zone is in the centre of Europe, in western Poland, along the Polish–German border.

The zone's grounds are located in three western Polish provinces: Lubuskie, Zachodniopomorskie and Wielkopolskie, from Karlino, Goleniów and Police in the North, to Lubsko and Bytom Odrzański in the South. It uses the economic and touristic potential of almost the whole west of Poland. Within the zone one can find the biggest cities, industrial and commercial centres of the region: Poznań, Szczecin, Gorzów Wielkopolski and Zielona Góra.

Created in 1997, the Kostrzyn–Slubice SEZ is one of the fastest developing special economic zone in Poland, because of its high rate of tax exemption, nowadays one of the highest in Poland, and its greenfields.

List of Poles by net worth

This is a list of Polish billionaires based on an annual assessment of wealth and assets compiled and published by Forbes magazine in 2017.

List of Polish voivodeships by GRP per capita

This is a list of Polish voivodeships by gross regional product (GRP) per capita, based on purchasing power standards (PPS) and shown in euros. Statistics shown are for 2017 levels.

This is a list of Polish voivodeships by nominal gross regional product (GRP) shown in billion euros. Statistics shown are for 2017 levels.

List of Polish voivodeships by Human Development Index

This is a list of the voivodeships of Poland by Human Development Index as of 2017.

List of exports of Poland

The following is a list of the exports of Poland.

Ministry of Agriculture and Rural Development (Poland)

The Ministry of Agriculture and Rural Development of the Republic of Poland (Polish: Ministerstwo Rolnictwa i Rozwoju Wsi) was formed on October 1999 from the Ministry of Agriculture and Food Economy of Poland; the ministry can trace its history to 1944.

The Ministry's 1999 incarnation was brought about because development of rural regions was Poland's greatest political, economic, and social challenge that was uncontested by both coalition and opposition politicians.The ministry is concerned with various aspects of Polish agriculture and improving its rural areas.

The current minister is Jan Krzysztof Ardanowski.

Ministry of Economy (Poland)

Ministry of Economy of the Republic of Poland (Polish: Ministerstwo Gospodarki) was a ministry dealing with economy of Republic of Poland.

Created in 1997 from reforms and mergers of other ministries, it has gone through several name changes and has recently been downsized, with issues related to work being split to Ministry of Labour and Social Policy and regional issues split to Ministry of Regional Development. In 2007 the bureau of tourism was moved to Ministry of Sport.

The last minister was Janusz Piechociński. In late 2015 it was merged into the new Ministry of Development.

Ministry of State Treasury (Poland)

Ministry of State Treasury of the Republic of Poland (or just Ministry of (the) Treasury according to its own English webpage) was formed to administer issues related to State Treasury of Poland. The formation of the ministry occurred in 1996 during the Polish administrative reform of 1996. It was dissolved in 2017.

The ministry traces its history the Ministry of Ownership Transformation (Ministerstwo Przekształceń Własnościowych), established around 1990 to oversee privatization of the economy of Poland, which before 1990 was significantly controlled and owned by the communist government of the People's Republic of Poland. In modern Poland, the Ministry of State Treasury of the Republic of Poland is separate from the Ministry of Finance of the Republic of Poland. However, until 1950, the modern Polish Ministry of Finance functioned under the name of the Ministry of State Treasury. In 1950, the Ministry of State Treasury was liquidated and a new Ministry of Finance was created. In 1996 the Ministry of State Treasury was recreated, in a limited scope compared to its old namesake, and now exists alongside of the Ministry of Finance.

The last minister was Dawid Jackiewicz.

Old-Polish Industrial Region

Staropolski Okręg Przemysłowy (Old Polish Industrial Region) is an industrial region in northern part of Lesser Poland. It is the oldest and in terms of area covered, largest of Polish industrial regions. Most of the region is located in Lesser Poland Upland, and its historic center lies along the Kamienna river. Primary industrial cities: Kielce, Radom, Ostrowiec Świętokrzyski, Starachowice and Skarżysko-Kamienna.

Poland and the International Monetary Fund

Poland was one of the founding members of the IMF in 1945. Under pressure from the Soviet Union, the country withdrew in 1950, reasoning that the organisation had become a tool for the United States. After Poland's martial law ended in 1983 and the United States lifted veto against Polish membership, Poland rejoined the IMF in 1986.Poland’s involvement with IMF lending facilities can be separated into two periods, Emergence from Communism and Standby Arrangements: 1990-96 followed by Flexible Credit Line Arrangements: 2009-2017. The first years mark Poland’s transition from a planned to a market economy, aided by the IMF. Current changes mark Poland’s solid growth and ability to hopefully withstand any global financial crisis or Euro-zone crisis. In 2018, Poland purchased a large number of gold reserves, their largest purchase since 1983.

Polish Economy Hall of Fame

The membership in the Polish Economy Hall of Fame (Polish: Galeria Chwały Polskiej Ekonomii) is an award for Polish economists.

Polish Mint

The Mint of Poland (Polish: Mennica Polska) is a private company (Mennica Polska S.A.) which is the only body permitted to manufacture (mint) coins and investment products in Poland. It is located in Warsaw. It is a Joint-stock company, with a listing on the Warsaw Stock Exchange since April 7, 1998, which makes it the only mint in the world that is publicly traded.

Unemployment in Poland

Unemployment in Poland appeared in the 19th century during industrialization, and was particularly severe during the Great Depression. Under communist rule Poland officially had close to full employment, although hidden unemployment existed. After Poland's transition to a market economy the unemployment rate sharply increased, peaking at above 16% in 1993, then dropped afterwards, but remained well above pre-1993 levels. Another period of high unemployment occurred in the early 2000s when the rate reached 20%. As Poland entered the European Union (EU) and its job market in 2004, the high unemployment set off a wave of emigration, and as a result domestic unemployment started a downward trend that continued until the onset of the 2008 Great Recession. Recent years have seen an increase in the unemployment rate from below 8% to above 10% (Eurostat) or from below 10% to 13% (GUS). The rate began dropping again in late 2013. Polish government (GUS) reported 9.6% registered unemployment in November 2015, while European Union's Eurostat gave 7.2%. According to Eurostat data, since 2008, unemployment in Poland has been constantly below the EU average. Significant regional differences in the unemployment rate exist across Poland.

Upper Silesian Coal Basin

The Upper Silesian Coal Basin (Polish: Górnośląskie Zagłębie Węglowe, GZW, Czech: Hornoslezská uhelná pánev) is a coal basin in Silesia, in Poland and the Czech Republic.The Basin also contains a number of other minable resources, such as methane, cadmium, lead, silver and zinc. Coal depth is approximately 1000 meters, and contains about 70 billion tons, with excellent extraction potential.

Industrial areas within the Upper Silesian Coal Basin:

Upper Silesian Industrial Region (Polish: Górnośląski Okręg Przemysłowy, GOP)

Rybnik Coal Area (Polish: Rybnicki Okręg Węglowy, ROW)

Ostrava-Karviná Coal Area (Czech: Ostravsko-karvinská uhelná pánev)The Upper Silesian Coal Basin lies in the provinces of Upper Silesia and Zagłębie Dąbrowskie in southern Poland, in a highland located between the upper Vistula and the upper Oder rivers, as well as extending into the Moravian-Silesian Region in the Czech Republic. The Upper Silesian Coal Basin includes the Silesian metropolitan area and has a population of 5,294,000 (with 4,311,000 in Poland and 983,000 in the Czech Republic). Area: 5,400 km² (in Poland - 4,500 km², in Czech Republic - 900 km²).

Upper Silesian Industrial Region

The Upper Silesian Industrial Region (Polish: Górnośląski Okręg Przemysłowy, pronounced [gurnɔˈɕlɔ̃skʲi ˌɔkrɛŋk pʂɛmɨˈswɔvɨ], Polish abbreviation: GOP [gɔp]; German: Oberschlesisches Industriegebiet) is a large industrial region in Poland. It lies mainly in the Silesian Voivodeship, centered on Katowice.

It is situated in the northern part of Upper Silesian Coal Basin a home of altogether 5 million people (Silesian metropolitan area), the southwest border of the Rybnik Coal Area (Polish: Rybnicki Okręg Węglowy, ROW) and west borders with the Ostrava urban area. Covers 3,200 km² and about 3 million people.The Upper Silesian Industrial Region is located in the province of Upper Silesia and Zagłębie Dąbrowskie in southern Poland in a basin between the Vistula and Oder rivers.

Upper Silesian Industrial Region is an area with enormous concentration of industry. Dominates here:

Mining industry (more than a dozen active coal mines, mainly as Katowicki Holding Węglowy and Kompania Węglowa)

Iron and steel industry (more than a dozen active iron and nonferrous metals)

Transport industry (example General Motors Manufacturing Poland and Fiat Auto Poland, Konstal, Bumar Łabędy)

The energy industry (more than a dozen plants)

Mechanical engineering

Chemical industry

Why didn't you invest in Eastern Poland?

Why didn't you invest in Eastern Poland? (Polish: Dlaczego nie zainwestowałeś w Polskę Wschodnią?) was an advertising campaign conducted by the Polish Information and Foreign Investment Agency (PAIiIZ), and supported by the European Regional Development Fund, to raise the domestic and international profile of Eastern Poland, with the aim of increasing economic investment in the region.

Poland articles
History
Geography
Politics
Economy
Culture
History
Guidelines
System
Issues
Agreements
Ministerial
Conferences
People
Members
Sovereign states
States with limited
recognition
Dependencies and
other entities
Other entities

This page is based on a Wikipedia article written by authors (here).
Text is available under the CC BY-SA 3.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.