Currency | Złoty (PLN, zł) |
---|---|
Calendar year | |
Trade organisations | EU, WTO and OECD |
Country group |
|
Statistics | |
Population | 38,179,800 (31 March 2021)[4] |
GDP | |
GDP rank | |
GDP growth |
|
GDP per capita | |
GDP per capita rank | |
GDP by sector |
|
| |
Population below poverty line | |
27.0 low (2023)[8] | |
54 out of 100 points (2023, 47th rank) | |
Labour force | |
Labour force by occupation |
|
Unemployment | |
Average gross salary | 7,767 zł / €1,783 monthly |
5,625 zł / €1,291 monthly | |
Main industries |
|
External | |
Exports | $411.6 billion (2021 est.)[3] |
Export goods | vehicle parts/accessories, plastic products, garments, electric batteries, computers (2022) |
Main export partners |
|
Imports | $380.6 billion (2021 est.)[3] |
Import goods | garments, crude petroleum, cars, vehicle parts/accessories, plastic products (2022) |
Main import partners | |
FDI stock | |
$1.584 billion (2017 est.)[3] | |
Gross external debt | $241 billion (31 December 2017 est.)[3] |
Public finances | |
Revenues | 41.6% of GDP (2023)[17] |
Expenses | 46.7% of GDP (2023)[17] |
Economic aid |
|
$166.05 billion (31 December 2021 est.)[3] | |
All values, unless otherwise stated, are in US dollars. |
The economy of Poland is an industrialised, mixed economy with a developed market that serves as the sixth-largest in the European Union by nominal GDP and fifth-largest by GDP (PPP).[24] Poland boasts the extensive public services characteristic of most developed economies. Since 1988, Poland has pursued a policy of economic liberalisation but retained an advanced public welfare system. This includes universal free public healthcare and education (including tertiary), extensive provisions of free public childcare, and parental leave. The country is considered by many to be a successful post-communist state. It is classified as a high-income economy by the World Bank,[25] ranking 20th worldwide in terms of GDP (PPP), 21st in terms of GDP (nominal), and 21st in the 2023 Economic Complexity Index.[26] Among OECD nations, Poland has a highly efficient and strong social security system; social expenditure stood at roughly 22.7% of GDP.[27][28][29]
The largest component of Poland's economy is the service sector (62.3%), followed by industry (34.2%) and agriculture (3.5%). Following the economic reform of 1989, Poland's external debt has increased from $42.2 billion in 1989 to $365.2 billion in 2014. Poland shipped US$224.6 billion worth of goods around the globe in 2017, while exports increased to US$221.4 billion. The country's top export goods include machinery, electronic equipment, vehicles, furniture, and plastics. Poland was the only economy in the EU to avoid a recession through the 2007–08 economic downturn.[30]
As of 2019, the Polish economy had been growing steadily for 28 years, a record high in the EU. This record was only surpassed by Australia in the world economy.[31] GDP per capita at purchasing power parity has grown on average by 6% p.a. over the last 20 years, the highest in Central Europe. Poland's GDP has increased seven-fold since 1990.[32][33][34]