Poland

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Poland - In Short.

Overview of Poland

Poland’s history as a state began near the middle of the 10th century. By the mid-16th century, the Polish-Lithuanian Commonwealth ruled a vast tract of land in Central and Eastern Europe. During the 18th century, internal disorders weakened the nation, and in a series of agreements between 1772 and 1795, Russia, Prussia, and Austria partitioned Poland among themselves. Poland regained its independence in 1918 only to be overrun by Germany and the Soviet Union in World War II. It became a Soviet satellite state following the war. Labor turmoil in 1980 led to the formation of the independent trade union “Solidarity” that over time became a political force with over 10 million members. Free elections in 1989 and 1990 won Solidarity control of the parliament and the presidency, bringing the communist era to a close. A “shock therapy” program during the early 1990s enabled the country to transform its economy into one of the most robust in Central Europe. Poland joined NATO in 1999 and the EU in 2004. 
Value
Country Full Name
Poland
Country Code
POL
Region
Europe & Central Asia
Income Group
High income
Currency Unit
GDP
5.97E+11
Population
37899070
Land Area
306170
Net National Income Per Capita
13301.3593
GDP per Capita (PPP)
34286.98508

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Poland - Economic

Economy of Poland

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.

Unemployment Rate

Inflation Rate

Poland - GDP Composition

GDP Composiiton & Value Added of Poland

Last Updated: Jan, 2021, Updated For 2020.

Poland - GDP, Value Added

Demographics of Poland

population concentrated in the southern area around Krakow and the central area around Warsaw and Lodz, with an extension to the northern coastal city of Gdansk
Geographic Location

Central Europe, east of Germany

Races

Polish 96.9%, Silesian 1.1%, German 0.2%, Ukrainian 0.1%, other and unspecified 1.7% (2011 est.)note: represents ethnicity declared first

Languages

Polish (official) 98.2%, Silesian 1.4%, other 1.1%, unspecified 1.3%; note - data represent the language spoken at home; shares sum to more than 100% because some respondents gave more than one answer on the census; Poland ratified the European Charter for Regional or Minority Languages in 2009 recognizing Kashub as a regional language, Czech, Hebrew, Yiddish, Belarusian, Lithuanian, German, Armenian, Russian, Slovak, and Ukrainian as national minority languages, and Karaim, Lemko, Romani (Polska Roma and Bergitka Roma), and Tatar as ethnic minority languages (2011 est.)major-language

Religion

Catholic 85% (includes Roman Catholic 84.8% and other Catholic 0.3%), Orthodox 1.3% (almost all are Polish Autocephalous Orthodox), Protestant 0.4% (mainly Augsburg Evangelical and Pentecostal), other 0.3% (includes Jehovah's Witness, Buddhist, Hare Krishna, Gaudiya Vaishnavism, Muslim, Jewish, Church of Jesus Christ), unspecified 12.9% (2020 est.)

Dependency & Expectancy of Poland

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

Politics & Policies of Poland

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

Arctic Council (observer), Australia Group, BIS, BSEC (observer), CBSS, CD, CE, CEI, CERN, EAPC, EBRD, ECB, EIB, ESA, EU, FAO, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MONUSCO, NATO, NEA, NSG, OAS (observer), OECD, OIF (observer), OPCW, OSCE, PCA, Schengen Convention, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNMIL, UNMISS, UNOCI, UN Security Council (temporary), UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO, ZC

Import of Poland

Export of Poland

Import Destination

Export Destination