Economy - overview:
Poland has the sixth-largest economy in the EU and has long had a reputation as a business-friendly country with largely sound macroeconomic policies. Since 1990, Poland has pursued a policy of economic liberalization. During the 2008-09 economic slowdown Poland was the only EU country to avoid a recession, in part because of the government’s loose fiscal policy combined with a commitment to rein in spending in the medium-term Poland is the largest recipient of EU development funds and their cyclical allocation can significantly impact the rate of economic growth.The Polish economy performed well during the 2014-17 period, with the real GDP growth rate generally exceeding 3%, in part because of increases in government social spending that have helped to accelerate consumer-driven growth. However, since 2015, Poland has implemented new business restrictions and taxes on foreign-dominated economic sectors, including banking and insurance, energy, and healthcare, that have dampened investor sentiment and has increased the government’s ownership of some firms. The government reduced the retirement age in 2016 and has had mixed success in introducing new taxes and boosting tax compliance to offset the increased costs of social spending programs and relieve upward pressure on the budget deficit. Some credit ratings agencies estimate that Poland during the next few years is at risk of exceeding the EU’s 3%-of-GDP limit on budget deficits, possibly impacting its access to future EU funds. Poland’s economy is projected to perform well in the next few years in part because of an anticipated cyclical increase in the use of its EU development funds and continued, robust household spending.Poland faces several systemic challenges, which include addressing some of the remaining deficiencies in its road and rail infrastructure, business environment, rigid labor code, commercial court system, government red tape, and burdensome tax system, especially for entrepreneurs. Additional long-term challenges include diversifying Poland’s energy mix, strengthening investments in innovation, research, and development, as well as stemming the outflow of educated young Poles to other EU member states, especially in light of a coming demographic contraction due to emigration, persistently low fertility rates, and the aging of the Solidarity-era baby boom generation.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
$1.111 trillion (2017 est.)
$1.07 trillion (2016 est.)
$1.042 trillion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 25
$510 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]
3.8% (2017 est.)
2.6% (2016 est.)
3.9% (2015 est.)
country comparison to the world: 80
[see also: GDP - real growth rate country ranks ]
$29,300 (2017 est.)
$28,200 (2016 est.)
$27,400 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 66
19% of GDP (2017 est.)
19.4% of GDP (2016 est.)
19.9% of GDP (2015 est.)
country comparison to the world: 96
[see also: Gross national saving country ranks ]
household consumption: 58.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 18.1%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 17.8%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.8%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 56.2%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -51.8% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
agriculture: 2.4%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 40.2%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 64.3% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]
potatoes, fruits, vegetables, wheat; poultry, eggs, pork, dairy
machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages, textiles
4.2% (2017 est.)
country comparison to the world: 64
[see also: Industrial production growth rate country ranks ]
17.6 million (2017 est.)
country comparison to the world: 37
[see also: Labor force country ranks ]
agriculture: 11.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 30.4%
[see also: Labor force - by occupation - industry country ranks ]
services: 57.6% (2015)
[see also: Labor force - by occupation - services country ranks ]
4.8% (2017 est.)
6.2% (2016 est.)
country comparison to the world: 65
[see also: Unemployment rate country ranks ]
17.6% (2015 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 3%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 23.9% (2015 est.)
30.8 (2015)
33.7 (2008)
country comparison to the world: 122
[see also: Distribution of family income - Gini index country ranks ]
revenues: $90.8 billion
[see also: Budget - revenues country ranks ]
expenditures: $102.2 billion (2017 est.)
[see also: Budget - expenditures country ranks ]
17.8% of GDP (2017 est.)
country comparison to the world: 171
[see also: Taxes and other revenues country ranks ]
-2.2% of GDP (2017 est.)
country comparison to the world: 93
[see also: Budget surplus (+) or deficit (-) country ranks ]
46.2% of GDP (2017 est.)
48.4% of GDP (2016 est.)
note: data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities, the data include subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions
country comparison to the world: 114
[see also: Public debt country ranks ]
calendar year
1.9% (2017 est.)
-0.6% (2016 est.)
country comparison to the world: 86
[see also: Inflation rate (consumer prices) country ranks ]
1.5% (31 December 2016)
2% (31 December 2015)
country comparison to the world: 122
[see also: Central bank discount rate country ranks ]
4.8% (31 December 2017 est.)
4.74% (31 December 2016 est.)
country comparison to the world: 148
[see also: Commercial bank prime lending rate country ranks ]
$255.1 billion (31 December 2017 est.)
$195.1 billion (31 December 2016 est.)
country comparison to the world: 21
[see also: Stock of narrow money country ranks ]
$374.2 billion (31 December 2017 est.)
$300.6 billion (31 December 2016 est.)
country comparison to the world: 30
[see also: Stock of broad money country ranks ]
$413.8 billion (31 December 2017 est.)
$336.7 billion (31 December 2016 est.)
country comparison to the world: 31
[see also: Stock of domestic credit country ranks ]
$261.5 billion (31 December 2016 est.)
$277.4 billion (31 December 2015 est.)
$351.7 billion (31 December 2014 est.)
country comparison to the world: 30
[see also: Market value of publicly traded shares country ranks ]
-$4.958 billion (2017 est.)
-$959 million (2016 est.)
country comparison to the world: 175
[see also: Current account balance country ranks ]
$221.4 billion (2017 est.)
$195.7 billion (2016 est.)
country comparison to the world: 26
[see also: Exports country ranks ]
machinery and transport equipment 37.8%, intermediate manufactured goods 23.7%, miscellaneous manufactured goods 17.1%, food and live animals 7.6% (2012 est.)
Germany 27.3%, UK 6.6%, Czech Republic 6.6%, France 5.4%, Italy 4.8%, Netherlands 4.5% (2016)
$221.8 billion (2017 est.)
$193.6 billion (2016 est.)
country comparison to the world: 21
[see also: Imports country ranks ]
machinery and transport equipment 38%, intermediate manufactured goods 21%, chemicals 15%, minerals, fuels, lubricants, and related materials 9% (2011 est.)
Germany 28.3%, China 7.9%, Netherlands 6%, Russia 5.8%, Italy 5.3%, France 4.2%, Czech Republic 4.1% (2016)
$115 billion (31 December 2017 est.)
$114.4 billion (31 December 2016 est.)
country comparison to the world: 23
[see also: Reserves of foreign exchange and gold country ranks ]
$362 billion (31 December 2017 est.)
$347.8 billion (31 December 2016 est.)
country comparison to the world: 32
[see also: Debt - external country ranks ]
$235.7 billion (31 December 2017 est.)
$224.5 billion (31 December 2016 est.)
country comparison to the world: 27
[see also: Stock of direct foreign investment - at home country ranks ]
$68.22 billion (31 December 2017 est.)
$64.52 billion (31 December 2016 est.)
country comparison to the world: 39
[see also: Stock of direct foreign investment - abroad country ranks ]
zlotych (PLN) per US dollar -
3.748 (2017 est.)
3.9459 (2016 est.)
3.9459 (2015 est.)
3.7721 (2014 est.)
3.1538 (2013 est.)