Poland Economy
Is Poland a wealthy country?
Poland has been experiencing robust economic growth and development, becoming one of the fastest-growing economies in Central and Eastern Europe.
Growth and Stability: Despite global economic challenges, Poland has maintained steady economic growth for several years. Its GDP growth rate has consistently outperformed many other European countries. Domestic demand, investments, and exports primarily drive the country's GDP.
Diverse Economy: Poland's economy is diverse, with various sectors contributing to its growth. Key sectors include manufacturing, agriculture, information technology, finance, and services. The country has also seen significant foreign investment, particularly in the automotive, electronics, and outsourcing industries.
Exports and Trade: Poland is an export-oriented economy, with exports accounting for a substantial portion of its GDP. The country exports machinery and equipment, furniture, food products, chemicals, and vehicles, among other goods. Its main trading partners include Germany, France, the UK, and other European countries.
Labor Market: Poland has a large and relatively young labor force, contributing to its economic growth. However, there are concerns about emigration, particularly of skilled workers, which could impact specific sectors in the long run.
Infrastructure Development: Poland has invested in infrastructure development, including transportation networks, energy, and telecommunications. These investments aim to enhance connectivity within the country and improve its competitiveness on the global stage.
EU Membership: Poland's membership in the European Union has driven economic growth through access to EU funds, trade agreements, and foreign investment. However, challenges such as compliance with EU regulations and managing EU funds effectively remain.
Challenges: Despite its economic successes, Poland faces several challenges, including income inequality, regional disparities, bureaucracy, and corruption. Moreover, there are concerns about political stability and the rule of law, which can impact investor confidence and economic growth.
Poland Economy Data
What is the GDP of Poland?
| Currency Name and Code | Polish Zloty (PLN) |
| GDP - Gross Domestic Product (PPP) | $1,223,460,000,000 (USD) |
| GDP - official exchange rate | $481,200,000,000 (USD) |
| GDP - real growth rate | 3.5% |
| GDP Per Capita | $26,400.00 (USD) |
| GDP by Sector- agriculture | 3.3% |
| GDP by Sector- Industry | 41.1% |
| GDP by Sector- services | 55.6% |
| GDP - composition, by end use |
household consumption: 58.9% government consumption: 17.8% investment in fixed capital: 20% investment in inventories: 0.7% exports of goods and services: 52.6% imports of goods and services: -50% |
| Population Below Poverty Line | 17% |
| Inflation Rate | 2.6% |
| Labor Force | 17,000,000 |
| Labor Force By Occupation- agriculture | 12.9% |
| Labor Force By Occupation- industry | 30.2% |
| Labor Force By Occupation- services | 57% |
| Unemployment Rate | 11.8% |
| Fiscal Year | calendar year |
| Annual Budget | $91,230,000,000 (USD) |
| Public Debt (% of GDP) | 47.3% |
| Taxes and other revenues - percent of GDP | 18% |
| Major Industries | machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages, textiles |
| Industrial Growth Rate | 6.5% |
| Agriculture Products | potatoes, fruits, vegetables, wheat; poultry, eggs, pork |
| Exchange Rate per US Dollar | zloty (PLN) |
| Commercial Bank Prime Lending Rate | 6.9% |