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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
  • 11.4% (2023)
  • 5.0% (2024)
  • 5.0% (2025)[5]
Population below poverty line
  • Positive decrease 11.8% (2022)[6]
  • Negative increase 16.3% at risk of poverty or social exclusion (AROPE 2023)[7]
Negative increase 27.0 low (2023)[8]
Decrease 54 out of 100 points (2023, 47th rank)
Labour force
  • Decrease 18,219,393 (2022)[11]
  • Increase 77.9% employment rate (2023)[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
vehicle parts/accessories, plastic products, garments, electric batteries, computers (2022)
Main export partners
ImportsIncrease $380.6 billion (2021 est.)[3]
Import goods
garments, crude petroleum, cars, vehicle parts/accessories, plastic products (2022)
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
  • 49.6% of GDP (2023)[17]
  • PLN 1.7 trillion (2023)[17]
  • PLN 174 billion deficit (2023)[17]
  • −5.1% of GDP (2023)[17]
Revenues41.6% of GDP (2023)[17]
Expenses46.7% of GDP (2023)[17]
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 a industrialized, developed market with a mixed economy that serves as the sixth-largest in the European Union by nominal GDP and fifth-largest by GDP (PPP).[24] Since 1988, Poland has pursued a policy of economic liberalisation but retained an advanced public welfare system. It is classified as a high-income economy by the World Bank,[25] ranking 20th worldwide in terms of GDP (PPP), 21st in terms of GDP (nominal), and 21st in the 2023 Economic Complexity Index.[26] Among OECD nations, Poland has a highly efficient and strong social security system; social expenditure stood at roughly 22.7% of GDP.[27][28][29]

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.[30]

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.[31] 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.[32][33][34]

  1. ^ "Groups and Aggregates Information". IMF.org. International Monetary Fund.
  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 April 2024.
  8. ^ "Gini coefficient of equivalised disposable income - EU-SILC survey". ec.europa.eu. Eurostat. Retrieved 20 April 2024.
  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. Retrieved 20 July 2024.
  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. ^ a b "Poland - Country Commercial Guide". trade.gov. Retrieved 19 March 2023.
  17. ^ a b c d e f "Provision of deficit and debt data for 2023 - first notification". ec.europa.eu/eurostat. Eurostat. Retrieved 28 April 2024.
  18. ^ "European Cohesion Policy in Poland" (PDF). Archived from the original (PDF) on 25 December 2017. Retrieved 25 December 2017.
  19. ^ "European structural and investment funds" (PDF). Archived (PDF) from the original on 20 April 2017. Retrieved 25 December 2017.
  20. ^ "S&P keeps Poland's rating, outlook unchanged". thenews.pl. Archived from the original on 26 December 2017. Retrieved 25 March 2018.
  21. ^ "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.
  22. ^ "Press Release". www.fitchratings.com. Archived from the original on 23 December 2017. Retrieved 25 March 2018.
  23. ^ 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.
  24. ^ "Report for Selected Countries and Subjects". www.imf.org. Archived from the original on 8 July 2018. Retrieved 25 March 2018.
  25. ^ "WDI 2017 Maps - Data". data.worldbank.org. Archived from the original on 23 June 2018. Retrieved 25 March 2018.
  26. ^ "Complexity rankingsThe Atlas of Economic Complexity". Harvard' Growth Lab Viz Hub. Retrieved 31 October 2020.
  27. ^ Kenworthy, Lane (1999). "Do Social-Welfare Policies Reduce Poverty? A Cross-National Assessment" (PDF). Social Forces. 77 (3): 1119–1139. doi:10.2307/3005973. JSTOR 3005973. Archived (PDF) from the original on 10 August 2013.
  28. ^ Moller, Stephanie; Huber, Evelyne; Stephens, John D.; Bradley, David; Nielsen, François (2003). "Determinants of Relative Poverty in Advanced Capitalist Democracies". American Sociological Review. 68 (1): 22–51. doi:10.2307/3088901. JSTOR 3088901.
  29. ^ "Social Expenditure – Aggregated data". Organisation for Economic Co-operation and Development.
  30. ^ "Poland was a". reuters.com. 21 April 2016. Archived from the original on 23 June 2018. Retrieved 25 March 2018.
  31. ^ 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.
  32. ^ "'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.
  33. ^ 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.
  34. ^ "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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