ECONOMY

Poland’s GDP grew 4.8% in 2017, the third highest growth rate in the European Union and Poland’s
highest since 2011.

  • Poland’s GDP rose to $1.02 trillion (PPP) in 2017.

  • IMF and Moody's upgraded Poland's 2018 GDP growth forecasts to 4.4% and 5% respectively. 

  • Poland's GDP increased approximately 3.9% annually from 2006 to 2017 and was the only country in the EU to avoid a recession during 2008 financial crisis. 

  • Poland’s 2017 inflation rate was just 2% overall.

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EMPLOYMENT & LABOR 

Poland's unemployment rate was 4.2%, in the first quarter of 2018 - the lowest rate in over 25 years.

  • The total number of people employed in Poland reached 16.3 million in Q2 2018.

  • 1 out of every 3 jobs are in construction or manufacturing industries.

  • The number of people employed in the private sector reached 12.4 million people.

  • Wages were 7.1% higher in the first half of 2018 compared to the same period in 2017, and 26.4% of companies forecasted additional pay increases for 2018.

  • Industrial production reached 7.3% in May 2018.

  • Construction activity was up 4.3% Q1 2018 over Q1 2017, and construction began on 154,495 dwellings,
    a 7.4% increase.


FINANCE & INVESTMENT

  • The MSCI Poland Index rose over 55% in 2017, beating China for the biggest gain among emerging markets.

    • In September 2018, FTSE Russell reclassified Poland as a developed market.

  • The gross value added from financial and insurance activities in the first quarter of 2018 was 12.6% higher
    year-over-year.

  • Domestic enterprises invested $15.8 billion in the first half of 2018, 11% higher compared to the same
    period in 2017.


INTERNATIONAL TRADE

Poland tied for best country to trade across borders in the World Bank’s 2018 Doing Business report.

  • Exports increased by 12.9% over 2016 and imports increased 15.1% to $231 billion.

  • Growth in both trade flows was the fastest since 2011.

  • According to the Polish Investment and Trade Agency, 92% of foreign investors are satisfied with their decision to invest in Poland and would take that step again.

  • A growing number of Polish companies are introducing product and/or process innovations to the market.
     

    • The share of high-tech exports doubled in the past decade (to 8.6% in 2017), indirectly showing the technological advancement of the Polish economy.
        

    • The most significant high-tech exports were digital data processing machines (14.5% of all high-tech exports) and turboprop parts and turbojet engines (approximately 11%).