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Poland Economy 2017
https://theodora.com/world_fact_book_2017/poland/poland_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Poland Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Poland has pursued a policy of economic liberalization since 1990 and Poland's economy was the only EU country to avoid a recession through the 2008-09 economic downturn. Although EU membership and access to EU structural funds have provided a major boost to the economy since 2004, GDP per capita remains significantly below the EU average and the unemployment rate is now below the EU average.The government of Prime Minister Donald TUSK steered the Polish economy through the economic downturn by skillfully managing public finances and adopting controversial pension and tax reforms to further shore up public finances. While the Polish economy has performed well over the past five years, growth slowed in 2013 and picked back up in 2014-15. Poland’s new center-right Law and Justice government plans to introduce expansionary economic policies to spur long-term growth, but social spending programs are expected to lead to increased deficit spending over the medium term.Poland faces several 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 and sources of supply, strengthening investments in innovation, research, and development, and 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):
$1.052 trillion (2016 est.) $1.02 trillion (2015 est.) $984.4 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 25
[see also: GDP country ranks ]

GDP (official exchange rate):
$467.4 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.1% (2016 est.) 3.7% (2015 est.) 3.3% (2014 est.)
country comparison to the world: 90
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$27,700 (2016 est.) $26,800 (2015 est.) $25,900 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 68
[see also: GDP - per capita country ranks ]

Gross national saving:
20.3% of GDP (2016 est.) 20.3% of GDP (2015 est.) 18.3% of GDP (2014 est.)
country comparison to the world: 81
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 57.4%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 17.8%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 19.8%
[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: 50.5%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -46.3% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 2.7%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 38.5%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 58.9% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
potatoes, fruits, vegetables, wheat; poultry, eggs, pork, dairy

Industries:
machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages, textiles

Industrial production growth rate:
4.2% (2016 est.)
country comparison to the world: 49
[see also: Industrial production growth rate country ranks ]

Labor force:
17.78 million (2016 est.)
country comparison to the world: 36
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 12.6%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 30.4%
[see also: Labor force - by occupation - industry country ranks ]
services: 57% (2012)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
9.6% (2016 est.) 10.5% (2015 est.)
country comparison to the world: 112
[see also: Unemployment rate country ranks ]

Population below poverty line:
17.3% (2012 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.3%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 25.6% (2012 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
32.4 (2012) 33.7 (2008)
country comparison to the world: 108
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $73.4 billion
[see also: Budget revenues country ranks ]
expenditures: $86.56 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
15.7% of GDP (2016 est.)
country comparison to the world: 182
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.8% of GDP (2016 est.)
country comparison to the world: 96
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
44.7% of GDP (2016 est.) 45% of GDP (2015 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-government
country comparison to the world: 104
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
-0.8% (2016 est.) -1% (2015 est.)
country comparison to the world: 12
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
2.5% (31 December 2014) 1.5% (31 December 2013)
country comparison to the world: 109
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
5.1% (31 December 2016 est.) 4.92% (31 December 2015 est.)
country comparison to the world: 137
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$186.6 billion (31 December 2016 est.) $177.4 billion (31 December 2015 est.)
country comparison to the world: 26
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$306.7 billion (31 December 2014 est.) $318.8 billion (31 December 2013 est.)
country comparison to the world: 34
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$344.8 billion (31 December 2016 est.) $337.4 billion (31 December 2015 est.)
country comparison to the world: 34
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$137.8 billion (31 December 2015 est.) $168.9 billion (31 December 2014 est.) $204.5 billion (31 December 2013 est.)
country comparison to the world: 38
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$250 million (2016 est.) -$1.117 billion (2015 est.)
country comparison to the world: 90
[see also: Current account balance country ranks ]

Exports:
$188.3 billion (2016 est.) $190.8 billion (2015 est.)
country comparison to the world: 25
[see also: Exports country ranks ]

Exports - commodities:
machinery and transport equipment 37.8%, intermediate manufactured goods 23.7%, miscellaneous manufactured goods 17.1%, food and live animals 7.6% (2012 est.)

Exports - partners:
Germany 27.1%, UK 6.8%, Czech Republic 6.6%, France 5.5%, Italy 4.8%, Netherlands 4.4% (2015)

Imports:
$189.5 billion (2016 est.) $188.4 billion (2015 est.)
country comparison to the world: 23
[see also: Imports country ranks ]

Imports - commodities:
machinery and transport equipment 38%, intermediate manufactured goods 21%, chemicals 15%, minerals, fuels, lubricants, and related materials 9% (2011 est.)

Imports - partners:
Germany 27.6%, China 7.5%, Russia 7.2%, Netherlands 5.9%, Italy 5.2%, France 4.1% (2015)

Reserves of foreign exchange and gold:
$90.21 billion (31 December 2016 est.) $94.91 billion (31 December 2015 est.)
country comparison to the world: 26
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$344.8 billion (31 December 2016 est.) $332.2 billion (31 December 2015 est.)
country comparison to the world: 32
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$228.8 billion (31 December 2016 est.) $221.8 billion (31 December 2015 est.)
country comparison to the world: 26
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$64.62 billion (31 December 2016 est.) $62.12 billion (31 December 2015 est.)
country comparison to the world: 40
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
zlotych (PLN) per US dollar - 4.056 (2016 est.) 3.7721 (2015 est.) 3.7721 (2014 est.) 3.1538 (2013 est.) 3.26 (2012 est.)


NOTE: The information regarding Poland on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Poland Economy 2017 information contained here. All suggestions for corrections of any errors about Poland Economy 2017 should be addressed to the CIA.




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