Poland - Economy
How is the economy of Poland? Based on the information we have, Poland has a high-income, diversified, EU-member economy; significant growth in GDP, trade, and investment since joining EU in 2004; rebounding from slowdown triggered by inflation and fall in consumer demand; strong foreign investment supported by EU structural funds; income tax reform and defense spending have added to public debt. Key agricultural products in this country include: milk, sugar beets, wheat, maize, potatoes, triticale, apples, rapeseed, barley, rye (2022).
More about the economy of Poland
| Labor force | 18.387 million (2023 est.) |
|---|---|
| Industrial production growth rate | 0.55% (2023 est.) |
| Industries | machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages, textiles |
| Population below poverty line | 11.8% (2022 est.) |
| Taxes and other revenues | 17.27% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | zlotych (PLN) per US dollar - |
| Exchange rates 2023 | 4.204 (2023 est.) |
| Exchange rates 2022 | 4.458 (2022 est.) |
| Exchange rates 2021 | 3.862 (2021 est.) |
| Exchange rates 2020 | 3.9 (2020 est.) |
| Exchange rates 2019 | 3.839 (2019 est.) |
| Debt - external | |
| Debt - external 2019 | $351.77 billion (2019 est.) |
| Debt - external 2018 | $373.721 billion (2018 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $193.783 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $166.664 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $166.03 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $12.689 billion (2023 est.) |
| Current account balance 2022 | -$16.697 billion (2022 est.) |
| Current account balance 2021 | -$8.515 billion (2021 est.) |
| Public debt | |
| Public debt 2017 | 50.6% of GDP (2017 est.) |
| Budget | |
| Revenues | $244.485 billion (2019 est.) |
| Expenditures | $248.868 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.84% of GDP (2023 est.) |
| Remittances 2022 | 0.93% of GDP (2022 est.) |
| Remittances 2021 | 1.05% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 3.4% (2021 est.) |
| Highest 10% | 22.8% (2021 est.) |
| Average household expenditures | |
| On food | 17.2% of household expenditures (2021 est.) |
| On alcohol and tobacco | 6.3% of household expenditures (2021 est.) |
| Imports | |
| Imports 2023 | $419.701 billion (2023 est.) |
| Imports 2022 | $421.226 billion (2022 est.) |
| Imports 2021 | $369.82 billion (2021 est.) |
| Imports (partners) | Germany 23%, China 11%, Italy 5%, Netherlands 5%, Czechia 4% (2022) |
| Comodities Imports force | garments, crude petroleum, cars, vehicle parts/accessories, plastic products (2022) |
| Exports | |
| Imports 2023 | $419.701 billion (2023 est.) |
| Imports 2022 | $421.226 billion (2022 est.) |
| Imports 2021 | $369.82 billion (2021 est.) |
| Exports (partners) | Germany 27%, Czechia 6%, France 6%, UK 5%, Netherlands 5% (2022) |
| Comodities Exports force | vehicle parts/accessories, plastic products, garments, electric batteries, computers (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $1.616 trillion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $1.613 trillion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $1.527 trillion (2021 est.) |
| GDP (official exchange rate) | $811.229 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $44,100 (2023 est.) |
| Real GDP per capita 2022 | $43,800 (2022 est.) |
| Real GDP per capita 2021 | $40,500 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 2.4% (2017 est.) |
| Industry | 40.2% (2017 est.) |
| Services | 57.4% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 58.6% (2017 est.) |
| Government consumption | 17.7% (2017 est.) |
| Investment in fixed capital | 17.7% (2017 est.) |
| Investment in inventories | 2% (2017 est.) |
| Exports of goods and services | 54% (2017 est.) |
| Imports of goods and services | -49.9% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 2.91% (2023 est.) |
| Unemployment rate 2022 | 2.89% (2022 est.) |
| Unemployment rate 2021 | 3.36% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 11.6% (2023 est.) |
| Male | 12% (2023 est.) |
| Female | 11.1% (2023 est.) |
All Important Facts about Poland
Want to know more about Poland? Check all different factbooks for Poland below.
