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Importing from Poland

Poland Import Guide | Trade Finance Global

Importing from Poland

Poland is now a member of the EU and in May 2004, they were conducting trade using the Central European Free Trade Agreement (CEFTA) and this included Slovakia, Hungary, the Czech Republic and Slovenia. Poland is the twenty-sixth largest export economy in the world and the twenty-first most complex economy according to the Economic Complexity Index (ECI). On average, Poland exports a yearly amount of $190B and imports around $200B, which results in a negative trade balance of around $10B. GDP of Poland was around $520B and its GDP per capita was around $23k. The main trading partner is its neighbour, Germany.

Poland Country Profile

Official Name (Local Language)Rzeczpospolita Polska
CapitalWarsaw
Population38,523,261
CurrencyPolish Zloty
GDP
LanguagesPolish
Telephone Dial In48

Poland Exports Profile

Exports ($m USD)

221,308

Number of Export Products

4,389

Number of Export Partners

224

Top 5 export partners

Country

Trade

% Partner Share

Germany

60,21

27.21

United Kingdom

14,071

6.36

Czech Republic

14,052

6.35

France

12,343

5.58

Italy

10,856

4.91

Top 5 Export Products at HS 6 digit level

Export Product

Number

Television receivers including video monitors a

5.6%

Automobiles with reciprocating piston engine di

3.4%

Automatic data processing machines and units th

2.7%

Cigarettes containing tobacco

2.0%

Motor vehicle parts nes

1.9%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Poland

Agriculture

%

Product List

2.7%

Potatoes, fruits, vegetables, wheat; poultry, eggs, pork, dairy

Industry

%

Industry List

38.5%

Machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages, textiles

Services

%

Services List

58.9%

Importing from Poland: What is trade finance?

Poland has emerged as a dynamic market over the past 25 years and has become a major actor within Europe, being the sixth-largest economy in the EU. The Polish economy performed well during the 2014-17 period, with the real GDP growth rate generally exceeding 3%. In 2017, Poland’s economy expanded 4.6% (OECD), its fastest pace since 2011 and above IMF estimates. Growth was led by domestic demand and government social spending. In fact, household consumption expenditure – which accounts for 61% of GDP – recorded its strongest growth in nearly a decade (4.7%). A stronger and more dynamic activity in Poland’s neighbours and in the EU have also supported such growth. The World Bank expects Poland’s economy to grow by 4% in 2018, followed by 3.5% in 2019.

Information

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Poland Economic Statistics

Government Website

https://www.premier.gov.pl/en.html

Sovereign Ratings

https://countryeconomy.com /ratings/poland

Central Bank

National Bank of Poland

Currency USD Exchange Rate

4056

Unemployment Rate

9.6%

Population below poverty line

17.6%

Inflation Rate

-0.8%

Prime Lending Rate

1.5%

GDP

$467.4 billion

GDP Pro Capita (PPP)

$27,700

Currency Name

Polish Zloty

Currency Code

PLN

World Bank Classification

High Income

Competitive Industrial Performance

36/138

Corruption Perceptions Index

36/180

Ease of Doing Business

33/190

Enabling Trade Index

31/136

Currency in Polan

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