Economy of Poland

Economy of Poland
	Warsaw, central business district
Currency	Złoty (PLN, zł)
Fiscal year	Calendar year
Trade organisations	EU, WTO and OECD
Country group	Developing/Emerging; High-income economy; Diversified, rapidly growing European (EU) economy;
Statistics
Population	38,179,800 (31 March 2021)
GDP	$880 billion (nominal, 2024); $1.8 trillion (PPP, 2024);
GDP rank	21st (nominal, 2024); 20th (PPP, 2024);
GDP growth	+0.6% (2023); +2.3% (2024); +3.4% (2025);
GDP per capita	$23,434 (nominal, 2024); $47,700 (PPP, 2024);
GDP per capita rank	46th (nominal, 2024); 39th (PPP, 2024);
GDP by sector	agriculture: 2.4%; industry: 40.2%; services: 57.4%; (2017 est.);
Inflation (CPI)	6.4% (2024)
Population below poverty line	11.8% (2022); 15.9% at risk of poverty or social exclusion (2022);
Gini coefficient	26.3 low (2022)
Human Development Index	0.876 very high (2021) (34th); 0.816 very high IHDI (28th) (2021);
Labour force	18,219,393 (2022); 72.2% employment rate (2018);
Labour force by occupation	agriculture: 7.1%; industry: 29.8%; services: 63.1%; (2023);
Unemployment	2.7% (May 2022); 9.5% youth unemployment (15 to 24 year-olds; July 2020);
Average gross salary	7,767 zł / €1,783 monthly
Average net salary	5,625 zł / €1,291 monthly
Main industries	machine building; iron and steel; mining coal; chemicals; ship building; food processing; furniture; glass; beverages; video games; textiles;
External
Exports	$411.6 billion (2021 est.)
Export goods	machinery and transport equipment 37.8%; intermediate manufactured goods 23.7%; miscellaneous manufactured articles 17.1%; food and live animals 7.6% (2012 est.);
Main export partners	Germany 28.7%; Czech Republic 5.9%; France 5.7%; United Kingdom 5.1%; Italy 4.6%; Netherlands 4.3%; (2021);
Imports	$380.6 billion (2021 est.)
Import goods	machinery and transport equipment 38.0%; intermediate manufactured goods 21.0%; chemicals 15.0%; minerals, fuels, lubricants and related materials 9.0% (2011 est.);
Main import partners	Germany 20.9%; China 14.9%; Russia 6.0%; Italy 5.0%; Netherlands 4.1%; (2021);
FDI stock	$282.6 billion (31 December 2017 est.); Abroad: $72.87 billion (31 December 2017 est.);
Current account	$1.584 billion (2017 est.)
Gross external debt	$241 billion (31 December 2017 est.)
Public finances
Government debt	56.0% of GDP (2021); PLN 1.0 trillion (2019);
Budget balance	PLN 16.8 billion deficit (2019); −0.7% of GDP (2019);
Revenues	41.3% of GDP (2019)
Expenses	42.0% of GDP (2019)
Economic aid	€67 billion from European Structural and Investment Funds (2007–2013); €86 billion from European Structural and Investment Funds (2014–2020);
Credit rating	Standard & Poor's:; A- (Domestic); A- (Foreign); A (T&C Assessment); Outlook: Stable; Moody's:; A2; Outlook: Stable; Fitch:; A-; Outlook: Stable; Scope:; A; Outlook: Stable;
Foreign reserves	$166.05 billion (31 December 2021 est.)
	; 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). 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, ranking 20th worldwide in terms of GDP (PPP), 21st in terms of GDP (nominal), and 21st in the 2023 Economic Complexity Index.

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.

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. 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.

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