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.
Official Name (Local Language) | Rzeczpospolita Polska | Capital | Warsaw | Population | 38,523,261 | Currency | Polish Zloty | GDP | $467.4 billion | Languages | Polish | Telephone Dial In | 48 |
221,308
4,389
224
Country
Trade
% Partner Share
Germany
60,210
27.21
United Kingdom
14,071
6.36
Czech Republic
14,052
6.35
France
12,343
5.58
Italy
10,856
4.91
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%
%
Product List
2.7%
Potatoes, fruits, vegetables, wheat; poultry, eggs, pork, dairy
%
Industry List
38.5%
Machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages, textiles
%
Services List
58.9%
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
https://www.premier.gov.pl/en.html
https://countryeconomy.com/ratings/poland
National Bank of Poland
4.056
9.6%
17.6%
-0.8%
1.5%
$467.4 billion
$27,700
Polish Zloty
PLN
High Income
36/138
36/180
33/190
31/136
Currency in Polan