The economy

Poland was one of the fastest-growing economies worldwide pre-crisis and has been the fastest-growing economy in post-crisis Europe.

  • The last 26 years have showed a huge potential in Polish economy:
    • its GDP doubled in size (measured in real times)
    • GDP per capita (at PPP) has moved from 32% to over 60% of the Western Europe (EU15)
    • Annual GDP growth between 1991-2008 equalled to remarkable level of 4.6%
  • Strong macroeconomic foundations, stable domestic demand and agile fiscal policy made Poland the only European Union country to avoid recession in times of financial crisis, growing by an outstanding 25% between 2008-2015, with an annual dynamics of 3.6%.



Source: GUS, 2016, Eurostat, 2016
(EU28 - Eurostat data for 2015 based on estimates after 3Q of 2015)


  • Today Poland is the eight-largest economy in the EU in real GDP terms, with buoyant private sector, internationally competitive export-oriented companies, as well as well-educated and skilled human capital
  • It is clear that Poland has been perceived as the new Europe’s growth engine and natural leader of Central Eastern Europe (CEE)
  • Poland’s growth has been based primarily on 5 pillars:
    1. dynamic exports,
    2. strong internal demand,
    3. productivity improvements,
    4. inflow of foreign direct investment (FDI),
    5. and inflow of EU funds.





Internationalization of economy - calendar


Trade

  • Along splendid economic growth pace, Poland has been increasingly competitive abroad, as seen in ever-growing exports figures
  • Poland, for the first time in its history, has noticed a positive trade balance (EUR 3.7 bn) in 2015
  • Exports have increased by astonishing 150.3% over the last decade, making Poland the new EU’s exporting engine
  • Almost 2/3 of Poland’s export value is generated by companies with foreign capital
  • Poland’s traditional trade partners are located in the EU (79.3% of exports share), but there has been also a gradual increase in trade cooperation with emerging and developing economies (9% of exports share in 2015)
  • Germany is traditionally Poland’s number one trade partner with 27.1% of share in exports, and 22.9% share in imports.


Trade balance between 2005-2015


Source: GUS, 2016



Source: GUS, 2016



Source: GUS, 2016

 

Additional information:

Bookmark with:    
Polish Information and Foreign Investment Agency
ul. Bagatela 12; 00-585 Warsaw;
Fax: +48 22 334 9889

e-mail for investors: invest@paiz.gov.pl

office hours: Monday-Friday, 9 a.m. to 5 p.m
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