Why Poland

The economy

Poland was one of the fastest-growing economies worldwide pre-crisis and has been the fastest-growing economy in post-crisis Europe.

  • The last 26 years have showed a huge potential in Polish economy:
    • its GDP doubled in size (measured in real times)
    • GDP per capita (at PPP) has moved from 32% to ca 70% of the EU avarage
  • Strong macroeconomic foundations, stable domestic demand and agile fiscal policy made Poland the only European Union country to avoid recession in times of financial crisis, growing by an outstanding 25% between 2008-2015, with an annual dynamics of 3.6%.



Source: GUS, 2017, Eurostat  data for 2016, * forecast

Today Poland is the eight-largest economy in the EU in real GDP terms, with buoyant private sector, internationally competitive export-oriented companies, as well as well-educated and skilled human capital

  • It is clear that Poland has been perceived as the new Europe’s growth engine and natural leader of Central Eastern Europe (CEE)
  • Poland’s growth has been based primarily on 5 pillars:
    1. dynamic exports,
    2. strong internal demand,
    3. productivity improvements,
    4. inflow of foreign direct investment (FDI),
    5. and inflow of EU funds.





Internationalization of economy - calendar


Trade

  • Along splendid economic growth pace, Poland has been increasingly competitive abroad, as seen in ever-growing exports figures.
  • Poland, for the first time in its history, has noticed a positive trade balance (EUR 3.7 bn) in 2015 and the tendency continued in 2016 and 2017.
  • Exports have increased by astonishing 150.3% over the last decade, making Poland the new EU’s exporting engine.
  • Almost 2/3 of Poland’s export value is generated by companies with foreign capital.
  • Poland’s traditional trade partners are located in the EU (80% of exports share), but there has been also a gradual increase in trade cooperation with emerging and developing economies. The volume of exports in the third quarter of 2017 was higher with the EU countries by 5.0%, with the countries of Central and Eastern Europe by 18.8% and with developing countries by 1.5%.
  • Germany is traditionally Poland’s number one trade partner with 27.4% of share in exports, and 23 % share in imports.


Trade balance between 2005-2015


Source: GUS, 2017

 

Imports in 2016

Source: GUS, 2017


Exports in 2016

Source: GUS, 2017

 

Additional information:


Last update: April 2018


Polish Investment and Trade Agency

Krucza 50

00-025 Warsaw


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