Poland

Poland has pursued a policy of economic liberalization since 1990 and today stands out as a success story among transition economies. Before 2009, GDP had grown about 5% annually, based on rising private consumption, a jump in corporate investment, and EU funds inflows. GDP per capita is still much below the EU average, but is similar to that of the three Baltic states. Since 2004, EU membership and access to EU structural funds have provided a major boost to the economy. Unemployment fell rapidly to 6.4% in October 2008, but climbed back to 11.8% for the year 2010, exceeding the EU average by more than 2%. In 2008 inflation reached 4.2%, more than the upper limit of the National Bank of Poland’s target range, but fell to 2.4% in 2010 due to global economic slowdown. Poland’s economic performance could improve over the longer term if the country addresses some of the remaining deficiencies in its road and rail infrastructure and its business environment. An inefficient commercial court system, a rigid labor code, bureaucratic red tape, burdensome tax system, and persistent low-level corruption keep the private sector from performing up to its full potential. Rising demands to fund health care, education, and the state pension system caused the public sector budget deficit to rise to 7.9% of GDP in 2010. The PO/PSL coalition government, which came to power in November 2007, plans to reduce the budget deficit in 2011 and has also announced its intention to enact business-friendly reforms, increase workforce participation, reduce public sector spending growth, lower taxes, and accelerate privatization. The government, however, has moved slowly on major reforms. The legislature passed a law significantly limiting early retirement benefits. A health-care bill also passed through the legislature, but the legislature failed to overturn a presidential veto.

$721.7 billion (2010 est.)

$698.6 billion (2009 est.)

$687 billion (2008 est.)

$438.9 billion (2010 est.)

3.3% (2010 est.)

1.7% (2009 est.)

5.1% (2008 est.)

$18,800 (2010 est.)

$18,200 (2009 est.)

$17,800 (2008 est.)

17 million (2010 est.)

11.8% (2010 est.)

11% (2009 est.)

17% (2003 est.)

34.9 (2005)

31.6 (1998)

19.5% of GDP (2010 est.)

50.5% of GDP (2010 est.)

46.4% of GDP (2009 est.)

2.4% (2010 est.)

3.5% (2009 est.)

1.75% (31 December 2009)

5% (31 December 2008)

5.99% (31 December 2008 est.)

5.72% (31 December 2007 est.)

$138.7 billion (31 December 2010 est)

$124.6 billion (31 December 2009 est)

$251.9 billion (31 December 2010 est.)

$229.2 billion (31 December 2009 est.)

$288.7 billion (31 December 2010 est.)

$264.1 billion (31 December 2009 est.)

$135.3 billion (31 December 2009)

$90.23 billion (31 December 2008)

$207.3 billion (31 December 2007)

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

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

6.5% (2010 est.)

149.1 billion kWh (2007 est.)

129.3 billion kWh (2007 est.)

9.703 billion kWh (2008)

8.48 billion kWh (2008 est.)

34,140 bbl/day (2009 est.)

545,400 bbl/day (2009 est.)

65,280 bbl/day (2008 est.)

553,900 bbl/day (2008 est.)

96.38 million bbl (1 January 2010 est.)

5.842 billion cu m (2009 est.)

16.33 billion cu m (2009 est.)

40 million cu m (2009 est.)

9.954 billion cu m (2009 est.)

164.8 billion cu m (1 January 2010 est.)

-$12.33 billion (2010 est.)

-$9.598 billion (2009 est.)

$160.8 billion (2010 est.)

$142.1 billion (2009 est.)

machinery and transport equipment 37.8%, intermediate manufactured goods 23.7%, miscellaneous manufactured goods 17.1%, food and live animals 7.6%

Germany 26.06%, Italy 6.84%, France 6.78%, UK 6.38%, Czech Republic 5.85%, Netherlands 4.14% (2009)

$167.4 billion (2010 est.)

$146.4 billion (2009 est.)

machinery and transport equipment 38%, intermediate manufactured goods 21%, chemicals 15%, minerals, fuels, lubricants, and related materials 9%

Germany 28.08%, Russia 8.65%, Italy 6.5%, Netherlands 5.59%, China 5.27%, France 4.6%, Czech Republic 4.05% (2009)

$99.76 billion (31 December 2010 est.)

$79.58 billion (31 December 2009 est.)

$252.9 billion (31 December 2010 est.)

$239.6 billion (31 December 2009 est.)

$198.8 billion (31 December 2010 est.)

$182.8 billion (31 December 2009 est.)

$30.71 billion (31 December 2010 est.)

$26.21 billion (31 December 2009 est.)

zlotych (PLN) per US dollar - 3.0718 (2010), 3.1214 (2009), 2.3 (2008), 2.81 (2007), 3.1032 (2006)