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Travel & Tourism . Tourist Guide to the Country

Poland Economy




Poland    Economy Top of Page
Economy - overview: Poland has steadfastly pursued a policy of liberalizing the economy and today stands out as one of the most successful and open transition economies. GDP growth has been strong and steady since 1992 - the best performance in the region. The privatization of small and medium state-owned companies and a liberal law on establishing new firms has allowed for the rapid development of a vibrant private sector. In contrast, Poland's large agricultural sector remains handicapped by structural problems, surplus labor, inefficient small farms, and lack of investment. Restructuring and privatization of "sensitive sectors" (e.g., coal, steel, railroads, and energy) has begun. Structural reforms in health care, education, the pension system, and state administration have resulted in larger than expected fiscal pressures. Further progress in public finance depends mainly on privatization of Poland's remaining state sector. The government's determination to enter the EU as soon as possible affects most aspects of its economic policies. Improving Poland's outsized current account deficit and reining in inflation are priorities. Warsaw leads the region in foreign investment and needs a continued large inflow.
GDP: purchasing power parity - $327.5 billion (2000 est.)
GDP - real growth rate: 4.8% (2000 est.)
GDP - per capita: purchasing power parity - $8,500 (2000 est.)
GDP - composition by sector: agriculture:  3.8%

industry:  36.6%

services:  59.6% (1999)
Population below poverty line: 18.4% (2000 est.)
Household income or consumption by percentage share: lowest 10%:  3%

highest 10%:  26.3% (1996)
Inflation rate (consumer prices): 10.2% (2000 est.)
Labor force: 17.2 million (1999 est.)
Labor force - by occupation: industry 22.1%, agriculture 27.5%, services 50.4% (1999)
Unemployment rate: 12% (1999)
Budget: revenues:  $49.6 billion

expenditures:  $52.3 billion, including capital expenditures of $NA (1999)
Industries: machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages, textiles
Industrial production growth rate: 4.3% (1999)
Electricity - production: 134.351 billion kWh (1999)
Electricity - production by source: fossil fuel:  96.43%

hydro:  3.16%

nuclear:  0%

other:  0.41% (1999)
Electricity - consumption: 120.007 billion kWh (1999)
Electricity - exports: 8.43 billion kWh (1999)
Electricity - imports: 3.491 billion kWh (1999)
Agriculture - products: potatoes, fruits, vegetables, wheat; poultry, eggs, pork
Exports: $28.4 billion (f.o.b., 2000)
Exports - commodities: machinery and transport equipment 30.2%, intermediate manufactured goods 25.5%, miscellaneous manufactured goods 20.9%, food and live animals 8.5% (1999)
Exports - partners: Germany 36.1%, Italy 6.5%, Netherlands 5.3%, France 4.8%, UK 4.0%, Czech Republic 3.8% (1999)
Imports: $42.7 billion (f.o.b., 2000)
Imports - commodities: machinery and transport equipment 38.2%, intermediate manufactured goods 20.8%, chemicals 14.3%, miscellaneous manufactured goods 9.5% (1999)
Imports - partners: Germany 25.2%, Italy 9.4%, France 6.8%, Russia 5.8%, UK 4.6%, Netherlands 3.7% (1999)
Debt - external: $57 billion (2000)
Economic aid - recipient: $NA
Currency: zloty (PLN)
Currency code: PLN
Exchange rates: zlotych per US dollar - 4.3126 (December 2000), 4.3461 (2000), 3.9671 (1999), 3.4754 (1998), 3.2793 (1997), 2.6961 (1996)
Fiscal year: calendar year

 

Countryfacts Information Courtesy: CIA Worldbook








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