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Poland Economy Profile 2013

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Economy - overviewPoland has pursued a policy of economic liberalization since 1990 and Poland's economy was the only one in the European Union to avoid a recession through the 2008-09 economic downturn. Although EU membership and access to EU structural funds have provided a major boost to the economy since 2004, GDP per capita remains significantly below the EU average while unemployment continues to exceed the EU average. The government of Prime Minister Donald TUSK steered the Polish economy through the economic downturn by skillfully managing public finances without stifling economic growth and adopted controversial pension and tax reforms to further shore up public finances. While the Polish economy has performed well over the past five years, growth slowed in 2012, in part due to the ongoing economic difficulties in the euro zone. The key policy challenge is to provide support to the economy through monetary easing, while maintaining the pace of structural fiscal consolidation. 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, red tape, and a burdensome tax system keep the private sector from realizing its full potential.
GDP (purchasing power parity)$814.1 billion (2012 est.)
$797.8 billion (2011 est.)
$764.7 billion (2010 est.)
note: data are in 2012 US dollars
GDP (official exchange rate)$487.7 billion (2012 est.)
GDP - real growth rate2% (2012 est.)
4.3% (2011 est.)
3.9% (2010 est.)
GDP - per capita (PPP)$20,900 (2012 est.)
$20,700 (2011 est.)
$20,000 (2010 est.)
note: data are in 2012 US dollars
Gross national saving17.3% of GDP (2012 est.)
16.8% of GDP (2011 est.)
15.7% of GDP (2010 est.)
GDP - composition, by end usehousehold consumption: 61.2%
government consumption: 17.8%
investment in fixed capital: 19.3%
investment in inventories: 1.1%
exports of goods and services: 46.2%
imports of goods and services: -45.6%
(2012 est.)
GDP - composition by sectoragriculture: 4%
industry: 32.2%
services: 63.8% (2012 est.)
Population below poverty line10.6% (2008 est.)
Labor force18.17 million (2012 est.)
Labor force - by occupationagriculture: 12.9%
industry: 30.2%
services: 57% (2010)
Unemployment rate12.8% (2012 est.)
12.4% (2011 est.)
Unemployment, youth ages 15-24total: 28.9%
male: 23.6%
female: 25.8% (2011)
Household income or consumption by percentage sharelowest 10%: 3.3%
highest 10%: 27.1% (2009 est.)
Distribution of family income - Gini index34.1 (2009)
31.6 (1998)
Investment (gross fixed)19.3% of GDP (2012 est.)
Budgetrevenues: $88.31 billion
expenditures: $97.65 billion (2012 est.)
Taxes and other revenues18.1% of GDP (2012 est.)
Budget surplus (+) or deficit (-)-1.9% of GDP (2012 est.)
Public debt57.1% of GDP (2012 est.)
57.7% of GDP (2011 est.)
note: data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities, the data include subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions
Inflation rate (consumer prices)3.7% (2012 est.)
4.2% (2011 est.)
Central bank discount rate4.25% (31 December 2012 est.)
4% (31 December 2010 est.)
Commercial bank prime lending rate8.5% (31 December 2012 est.)
8.47% (31 December 2011 est.)
Stock of narrow money$156.4 billion (31 December 2012 est.)
$137 billion (31 December 2011 est.)
Stock of broad money$293.4 billion (31 December 2012 est.)
$295.5 billion (31 December 2011 est.)
Stock of domestic credit$328.4 billion (31 December 2012 est.)
$295.4 billion (31 December 2011 est.)
Market value of publicly traded shares$168.1 billion (31 December 2012)
$138.2 billion (31 December 2011)
$190.2 billion (31 December 2010)
Agriculture - productspotatoes, fruits, vegetables, wheat; poultry, eggs, pork, dairy
Industriesmachine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages, textiles
Industrial production growth rate1.3% (2012 est.)
Current Account Balance-$18.29 billion (2012 est.)
-$22.25 billion (2011 est.)
Exports$188.5 billion (2012 est.)
$195.2 billion (2011 est.)
Exports - commoditiesmachinery and transport equipment 37.8%, intermediate manufactured goods 23.7%, miscellaneous manufactured goods 17.1%, food and live animals 7.6%
Exports - partnersGermany 26%, UK 7%, Czech Republic 6.5%, France 6%, Russia 5.2%, Italy 5%, Netherlands 4.6% (2012)
Imports$195.4 billion (2012 est.)
$209.3 billion (2011 est.)
Imports - commoditiesmachinery and transport equipment 38%, intermediate manufactured goods 21%, chemicals 15%, minerals, fuels, lubricants, and related materials 9% (2011 est.)
Imports - partnersGermany 27.3%, Russia 12.2%, Netherlands 5.9%, China 5.4%, Italy 5.2%, Czech Republic 4.3%, France 4.2% (2012)
Reserves of foreign exchange and gold$108.9 billion (31 December 2012 est.)
$97.86 billion (31 December 2011 est.)
Debt - external$364.2 billion (31 December 2012 est.)
$320.6 billion (31 December 2011 est.)
Stock of direct foreign investment - at home$243.8 billion (31 December 2012 est.)
$210.2 billion (31 December 2011 est.)
Stock of direct foreign investment - abroad$70.73 billion (31 December 2012 est.)
$61.7 billion (31 December 2011 est.)
Exchange rateszlotych (PLN) per US dollar -
3.2565 (2012 est.)
2.9629 (2011 est.)
3.0153 (2010 est.)
3.1214 (2009)
2.3 (2008)
Fiscal yearcalendar year

Source: CIA World Factbook
Unless otherwise noted, information in this page is accurate as of February 21, 2013