The economy of Poland is an emerging and developing,

high-income A high-income economy is defined by the World Bank as a country with a gross national income per capita of US$14,005 or more in 2023, calculated using the Atlas method. While the term "high-income" is often used interchangeably with "First World" ...

, industrialized

mixed economy A mixed economy is an economic system that includes both elements associated with capitalism, such as private businesses, and with socialism, such as nationalized government services. More specifically, a mixed economy may be variously de ...

that serves as the sixth-largest in the

European Union The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The u ...

by nominal GDP and fifth-largest by GDP (PPP).

Poland Poland, officially the Republic of Poland, is a country in Central Europe. It extends from the Baltic Sea in the north to the Sudetes and Carpathian Mountains in the south, bordered by Lithuania and Russia to the northeast, Belarus and Ukrai ...

boasts the extensive public services characteristic of most developed economies and is one of few countries in Europe to provide no tuition fees for undergraduate and postgraduate education and with universal public healthcare that is free at a point of use. Since 1988, Poland has pursued a policy of

economic liberalisation Economic liberalization, or economic liberalisation, is the lessening of government regulations and restrictions in an economy in exchange for greater participation by private entities. In politics, the doctrine is associated with classical liber ...

but retained an advanced public welfare system. It ranks 19th worldwide in terms of GDP (PPP), 20th in terms of GDP (nominal), and 21st in the 2023

Economic Complexity Index The economic complexity index (ECI) is a holistic measure of the productive capabilities of large economic systems, usually cities, regions, or countries. In particular, the ECI looks to explain the knowledge accumulated in a population and tha ...

. Among

OECD The Organisation for Economic Co-operation and Development (OECD; , OCDE) is an international organization, intergovernmental organization with 38 member countries, founded in 1961 to stimulate economic progress and international trade, wor ...

nations, Poland has a highly efficient and strong

social security system Welfare spending is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter. Social security may either be synonymous with welfare, or refer specifically to social insurance pr ...

; social expenditure stood at roughly 22.7% of GDP. 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 during the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

. As of 2019, the Polish economy had been developing steadily for 28 years, a record high in the EU. This record was only surpassed by

Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...

in the world economy.

GDP Gross domestic product (GDP) is a monetary measure of the total market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic performance o ...

per capita at purchasing power parity has grown on average by 6% p.a. over the last 20 years, the highest in

Central Europe Central Europe is a geographical region of Europe between Eastern Europe, Eastern, Southern Europe, Southern, Western Europe, Western and Northern Europe, Northern Europe. Central Europe is known for its cultural diversity; however, countries in ...

. Poland's GDP has increased seven-fold since 1990. Poland's nominal GDP has increased by 500% since 2000.

History

Poland has seen the largest increase in GDP per capita (more than 100%) both among the former

Eastern Bloc The Eastern Bloc, also known as the Communist Bloc (Combloc), the Socialist Bloc, the Workers Bloc, and the Soviet Bloc, was an unofficial coalition of communist states of Central and Eastern Europe, Asia, Africa, and Latin America that were a ...

countries, and compared to the EU-15 (around 45%). It has had uninterrupted economic growth since 1992, even after the

Before 1989

This article discusses the economy of post-1989 Poland. For a historical overview see: * Economy of the Polish–Lithuanian Commonwealth (1569–1795) * Economy of the Second Polish Republic (1918–1939) * Economy of the People's Republic of Poland (1945–1989)

1990–2009

The Polish state steadfastly pursued a policy of economic liberalization throughout the 1990s, with positive results for economic growth but negative results for some sectors of the population. The

privatization Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation w ...

of small and medium state-owned companies and a liberal law on establishing new firms has encouraged the development of the private business sector, which has been the main drive for Poland's economic growth. The agricultural sector remained constrained by structural problems, surplus labour, inefficient small farms, and a lack of investment. Restructuring and privatization of "sensitive sectors" (e.g. coal), has also been slow, but foreign investments in energy and steel have begun to turn the tide. Also, reforms in healthcare, education, the pension system, and state administration have resulted in larger than expected fiscal pressures. Improving this account deficit and tightening monetary policy, with a focus on inflation, are priorities for the Polish government. Further progress in public finance depends mainly on the reduction of public sector employment, and an overhaul of the tax code to incorporate farmers, who currently pay significantly lower taxes than other people with similar income levels. Historical GDP per capita development in Poland up to 2022

Historical GDP per capita development in Poland up to 2022

2008 financial crisis and Great Recession

Since the

Great Recession The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009.

, Poland's GDP has continued to grow. In 2009, the GDP for the European Union as a whole dropped by 4.5% while Polish GDP increased by 1.6%. As of November 2013, the size of the EU's economy remains below the pre-crisis level, while Poland's economy increased by a cumulative 16%. The major reasons for its success appear to be a large internal market (in terms of population it is sixth in the EU) and a business-friendly political climate. The economic reforms implemented after the fall of communism in the 1990s have also played a role; between 1989 and 2007 Poland's economy grew by 177%, faster than other countries in Eastern and Central Europe, while at the same time millions were left without work. However, the economic fluctuations of the

business cycle Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, governmen ...

did affect Poland's

unemployment rate Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is the proportion of people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work d ...

, which by early 2013 reached almost 11%. This level was still below European average and has begun falling subsequently. As of October 2017, Poland's unemployment rate stood at 4.6% according to

Eurostat Eurostat ("European Statistical Office"; also DG ESTAT) is a department of the European Commission ( Directorate-General), located in the Kirchberg quarter of Luxembourg City, Luxembourg. Eurostat's main responsibilities are to provide statist ...

Economic growth

In the period from 1989 to 2018, Poland's GDP increased by 826.96% and it was the best result in Europe. In the same period,

Ireland Ireland (, ; ; Ulster Scots dialect, Ulster-Scots: ) is an island in the North Atlantic Ocean, in Northwestern Europe. Geopolitically, the island is divided between the Republic of Ireland (officially Names of the Irish state, named Irelan ...

's GDP grew by 789.43%,

Slovakia Slovakia, officially the Slovak Republic, is a landlocked country in Central Europe. It is bordered by Poland to the north, Ukraine to the east, Hungary to the south, Austria to the west, and the Czech Republic to the northwest. Slovakia's m ...

's by 783.83% and the

Czech Republic The Czech Republic, also known as Czechia, and historically known as Bohemia, is a landlocked country in Central Europe. The country is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the south ...

by 549.47%. In 1990, the Polish national income amounted to USD 65.978 billion, and by 2017 it had increased to USD 524.5 billion. Achieving these results was possible thanks to the privatisation of state-owned enterprises, the development of private entrepreneurship, but also the rapid increase in work efficiency and openness to foreign direct investments. In 2018, the Polish economy grew by 5.1% compared to 4.8% in 2017. Economic growth in the fourth quarter of 2018 in Poland amounted to 4.9% on an annual basis and compared to the third quarter, where GDP increased by 5.1%, it was slightly lower. During this period, investments increased by 6.7%, private consumption also increased by 4.3%, and domestic demand increased by 4.8%. The PMI index in January 2019 was 48.2 points and was higher than in December 2018 when it amounted to 47.6 points.

Data

The following table shows the main economic indicators in 1980–2024 (with IMF staff estimates in 2024–2030). Inflation under 5% is in green.

Labour market and wages

Unemployment in Poland became a major problem after the

Revolutions of 1989 The revolutions of 1989, also known as the Fall of Communism, were a revolutionary wave of liberal democracy movements that resulted in the collapse of most Communist state, Marxist–Leninist governments in the Eastern Bloc and other parts ...

, which collapsed communism in Poland, although the economy previously had high levels of

hidden unemployment Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is the proportion of people above a specified age (usually 15) not being in paid employment or self-employment but currently available for Work (hu ...

. The unemployment rate then fell to 10% by the late 1990s and then increased again in the first few years of the 21st century, reaching a peak of 20% in 2002. It has since decreased, although unevenly. Since 2008 the unemployment rate in Poland has consistently been below European average. The rate fell below 8% in 2015 and 3.2% in 2019 leading to a labour deficit.

Foreign trade and FDI

With the collapse of the ruble-based

COMECON The Council for Mutual Economic Assistance, often abbreviated as Comecon ( ) or CMEA, was an economic organization from 1949 to 1991 under the leadership of the Soviet Union that comprised the countries of the Eastern Bloc#List of states, Easter ...

trade bloc in 1991, Poland reoriented its trade. As early as 1996, 70% of its trade was with EU members. Neighbouring

Germany Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total popu ...

is Poland's main trading partner today. Poland joined the European Union in May 2004. Before that, it fostered regional integration and trade through the

Central European Free Trade Agreement The Central European Free Trade Agreement (CEFTA) is an international trade agreement between countries mostly located in Southeastern Europe. Founded by representatives of Poland, Hungary and Czechoslovakia, CEFTA in 2006 expanded to Albania, Bo ...

(CEFTA), which included

Hungary Hungary is a landlocked country in Central Europe. Spanning much of the Pannonian Basin, Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Croatia and ...

, the Czech Republic, Slovakia, and

Slovenia Slovenia, officially the Republic of Slovenia, is a country in Central Europe. It borders Italy to the west, Austria to the north, Hungary to the northeast, Croatia to the south and southeast, and a short (46.6 km) coastline within the Adriati ...

. Poland is a founding member of the

World Trade Organization The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland that regulates and facilitates international trade. Governments use the organization to establish, revise, and enforce the rules that g ...

. As a member of the European Union, it applies the

common external tariff A common external tariff (CET) must be introduced when a group of countries forms a customs union. The same customs duties, import quotas, preferences or other non-tariff barriers to trade apply to all goods entering the area, regardless of which ...

to goods from other countries including the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

. Poland's major imports are capital goods needed for industrial retooling and for manufacturing inputs. The country's exports also include machinery but are highly diversified. The most successful exports are furniture, foods,PAP, 9 May 201
Polska żywność - fundament polskiego eksportu - 2012 kolejnym rokiem rekordowego eksportu żywności.
Ministerstwo Skarbu Państwa (Internet Archive). motor boats, light planes, hardwood products, casual clothing, shoes, and cosmetics.GUS

9 July 2014 (Internet Archive) Germany is by far the biggest importer of Poland's exports as of 2013.Ministerstwo Gospodarki
Polska - kierunki eksportu i najchętniej kupowane produkty z naszego kraju.
8 December 2013 Euro-Dane :: Ekonomia Unii Europejskiej (Internet Archive). Most importan
importers of Poland's 2012 exports, graph.
Manifo. In the agricultural sector, the biggest money-makers abroad include smoked and fresh fish, fine chocolate, dairy products, meats, and specialty breads, with the exchange rate conducive to export growth. Food exports amounted to 62 billion złoty in 2011, increasing by 17% from 2010. Most Polish exports to the U.S. receive tariff benefits under the

Generalised System of Preferences The Generalized System of Preferences, or GSP, is a preferential tariff system which provides tariff reduction on various products. The concept of GSP is very different from the concept of "most favored nation" (MFN). MFN status provides equal tre ...

(GSP) program. Poland ranks in the top 20 in the world both in terms of exports and imports, recording a clear trade surplus. Poland is less dependent on external trade than most other Central and Eastern European countries, but its volume of trade with Europe is still substantial. In 2011 the volume of trade (exports plus imports) with the

Eurozone The euro area, commonly called the eurozone (EZ), is a Monetary union, currency union of 20 Member state of the European Union, member states of the European Union (EU) that have adopted the euro (Euro sign, €) as their primary currency ...

as share of GDP was 40%, a doubling from the mid 1990s. 30% of Poland's exports are to Germany and another 30% to the rest of Europe. There has been substantial increase in Poland's exports to

Russia Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...

. However, in August 2014, exports of fruits and vegetables to Russia fell dramatically following its politically motivated ban by Moscow.

Foreign direct investment A foreign direct investment (FDI) is an ownership stake in a company, made by a foreign investor, company, or government from another country. More specifically, it describes a controlling ownership an asset in one country by an entity based i ...

(FDI) was at 40% of GDP in 2010, a doubling over the level in 2000. Most FDI into Poland comes from

France France, officially the French Republic, is a country located primarily in Western Europe. Overseas France, Its overseas regions and territories include French Guiana in South America, Saint Pierre and Miquelon in the Atlantic Ocean#North Atlan ...

, Germany, and the

Netherlands , Terminology of the Low Countries, informally Holland, is a country in Northwestern Europe, with Caribbean Netherlands, overseas territories in the Caribbean. It is the largest of the four constituent countries of the Kingdom of the Nether ...

. Polish firms in turn have foreign investments primarily in

Italy Italy, officially the Italian Republic, is a country in Southern Europe, Southern and Western Europe, Western Europe. It consists of Italian Peninsula, a peninsula that extends into the Mediterranean Sea, with the Alps on its northern land b ...

and

Luxembourg Luxembourg, officially the Grand Duchy of Luxembourg, is a landlocked country in Western Europe. It is bordered by Belgium to the west and north, Germany to the east, and France on the south. Its capital and most populous city, Luxembour ...

. Most of the internal FDI is in manufacturing, which makes it susceptible to economic fluctuations in the source countries. The

UAE The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a federal elective monarchy made up of seven emirates, with Abu Dhabi serving as i ...

is Poland's largest trading partner in the

Arab world The Arab world ( '), formally the Arab homeland ( '), also known as the Arab nation ( '), the Arabsphere, or the Arab states, comprises a large group of countries, mainly located in West Asia and North Africa. While the majority of people in ...

. The government offers investors various forms of state aid, such as CIT tax at the level of 19% and investment incentives in 14 Special Economic Zones (among others: income tax exemption, real estate tax exemption, competitive land prices), several industrial and technology parks, the possibility to benefit from the EU structural funds, brownfield and greenfield locations. According to the

National Bank of Poland The Narodowy Bank Polski (; the National Bank of Poland), often abbreviated to NBP, is the central bank of Poland, founded in 1945. It controls the issuing of Poland's currency, the Polish złoty. The bank is headquartered in Warsaw, and has bra ...

(NBP), the level of FDI inflow into Poland in 2006 amounted to €13.9 billion. According to an

Ernst & Young EY, previously known as Ernst & Young, is a multinational corporation, multinational professional services partnership, network based in London, United Kingdom. Along with Deloitte, KPMG and PwC, it is one of the Big Four accounting firms, Big F ...

report, Poland ranks 7th in the world in terms of investment attractiveness. However, Ernst & Young's 2010 European attractiveness survey reported that Poland saw a 52% decrease in FDI job creation and a 42% decrease in number of FDI projects since 2008. According to an

report, in 2004 Poland was one of the hardest-working nations in Europe. In 2010, the

World Economic Forum The World Economic Forum (WEF) is an international non-governmental organization, international advocacy non-governmental organization and think tank, based in Cologny, Canton of Geneva, Switzerland. It was founded on 24 January 1971 by German ...

ranked Poland near the bottom of OECD countries in terms of the clarity, efficiency, and neutrality of the legal framework used by firms to settle disputes.

Sectors

, the Polish economy is dominated by the

services Service may refer to: Activities * Administrative service, a required part of the workload of university faculty * Civil service, the body of employees of a government * Community service, volunteer service for the benefit of a community or a ...

sector, with 615,647 registered companies, followed by 329,255 companies in

finance Finance refers to monetary resources and to the study and Academic discipline, discipline of money, currency, assets and Liability (financial accounting), liabilities. As a subject of study, is a field of Business administration, Business Admin ...

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...

, and real estate and 176,149 companies in

retail trade Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesale ...

Production industries

Sukiennice and Main Market Square Krakow Poland

Before

World War II World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...

, Poland's industrial base was concentrated in the coal, textile, chemical, machinery, iron, and steel sectors. Today it extends to fertilizers, petrochemicals, machine tools, electrical machinery, electronics, car manufacturing, and shipbuilding. Poland's industrial base suffered greatly during World War II, and many resources were directed toward reconstruction. The socialist

economic system An economic system, or economic order, is a system of production, resource allocation and distribution of goods and services within an economy. It includes the combination of the various institutions, agencies, entities, decision-making proces ...

imposed in the late 1940s created large and unwieldy economic structures operated under a tight central command. In part because of this systemic rigidity, the economy performed poorly even in comparison with other economies in Central Europe. In 1990, the

Tadeusz Mazowiecki Tadeusz Mazowiecki (; 18 April 1927 – 28 October 2013) was a Polish author, journalist, philanthropist and politician, formerly one of the leaders of the Solidarity movement, and the first non-communist Polish prime minister since 1946, hav ...

government began a comprehensive reform programme to replace the centralised command economy with a market-oriented system. While the results overall have been impressive, many large state-owned industrial enterprises, particularly the rail, mining, steel, and defence sectors, have remained resistant to change and the downsizing required to survive in a

market-based economy A market economy is an economic system in which the decisions regarding investment, production, and distribution to the consumers are guided by the price signals created by the forces of supply and demand. The major characteristic of a market ...

Energy

Pharmaceuticals

The pharmaceutical market is worth 50 billion PLN as of , an increase of 9.5% over the previous year. The non-prescription medicine market, which accounts for about one-third of the total market value, was worth PLN 7.5bn in 2008. This value includes drugs and non-drugs such as dietary supplements, cosmetics, dressings, dental materials, diagnostic tests, and medical devices. The prescription medicines market was worth PLN 15.8bn.

Mining

, the country was the world's 3rd largest producer of

rhenium Rhenium is a chemical element; it has symbol Re and atomic number 75. It is a silvery-gray, heavy, third-row transition metal in group 7 of the periodic table. With an estimated average concentration of 1 part per billion (ppb), rhenium is one ...

, 5th largest producer of

silver Silver is a chemical element; it has Symbol (chemistry), symbol Ag () and atomic number 47. A soft, whitish-gray, lustrous transition metal, it exhibits the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. ...

, the 13th largest producer of

copper Copper is a chemical element; it has symbol Cu (from Latin ) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkish-orang ...

, the 14th largest producer of

sulfur Sulfur ( American spelling and the preferred IUPAC name) or sulphur ( Commonwealth spelling) is a chemical element; it has symbol S and atomic number 16. It is abundant, multivalent and nonmetallic. Under normal conditions, sulfur atoms ...

,and the 14th largest producer of

salt In common usage, salt is a mineral composed primarily of sodium chloride (NaCl). When used in food, especially in granulated form, it is more formally called table salt. In the form of a natural crystalline mineral, salt is also known as r ...

Agriculture

Agriculture employs 8.2% of the workforce but contributes 3.8% to GDP, reflecting relatively low productivity. Unlike the industrial sector, Poland's agricultural sector remained largely in private hands during the

Polish People's Republic The Polish People's Republic (1952–1989), formerly the Republic of Poland (1947–1952), and also often simply known as Poland, was a country in Central Europe that existed as the predecessor of the modern-day democratic Republic of Poland. ...

. Most of the former state farms are now leased to farmer tenants. Lack of credit is hampering efforts to sell former state farmland. Currently, Poland's 2 million private farms occupy 90% of all farmland and account for roughly the same percentage of total agricultural production. Farms are small—8 hectares on average—and often fragmented. Farms with an area exceeding 15 ha accounted for 9% of the total number of farms but cover 45% of total agricultural area. Over half of all farm households in Poland produce only for their own needs with little, if any, commercial sales. Poland is a net exporter of processed fruit and vegetables, meat, and dairy products. Processors often rely on imports to supplement domestic supplies of wheat, feed grains, vegetable oil, and protein meals, which are generally insufficient to meet domestic demand. However, Poland is the leading EU producer of potatoes and rye and is one of the world's largest producers of sugar beets and

triticale Triticale (; × ''Triticosecale'') is a hybrid of wheat (''Triticum'') and rye (''Secale'') first bred in laboratories during the late 19th century in Scotland and Germany. Commercially available triticale is almost always a second-generation ...

. Poland is also a significant producer of rapeseed, grains, hogs, and cattle. Poland is the sixth-largest producer and exporter of apples in the entire world.

Tourism

After acceding to the EU in 2004, tourism grew in Poland. Most tourist attractions in Poland are connected with natural environment, historic sites, and cultural events. They draw millions of tourists every year from all around the world. According to Tourist Institute's data, Poland was visited by 15.7 million tourists in 2006, and by 15 million tourists in 2007,Information about tourism in Poland (in Polish).
Source: Instytut Turystyki, 2008. out of the total number of 66.2 million foreign visitors. In 2016 the number of arrivals to Poland amounted to 80.5 million. 17.5 million of this number are arrivals considered for tourism purposes (with at least one night's stay), making it the 16th most visited country in the world. The most popular cities are

Kraków , officially the Royal Capital City of Kraków, is the List of cities and towns in Poland, second-largest and one of the oldest cities in Poland. Situated on the Vistula River in Lesser Poland Voivodeship, the city has a population of 804,237 ...

Warsaw Warsaw, officially the Capital City of Warsaw, is the capital and List of cities and towns in Poland, largest city of Poland. The metropolis stands on the Vistula, River Vistula in east-central Poland. Its population is officially estimated at ...

Gdańsk Gdańsk is a city on the Baltic Sea, Baltic coast of northern Poland, and the capital of the Pomeranian Voivodeship. With a population of 486,492, Data for territorial unit 2261000. it is Poland's sixth-largest city and principal seaport. Gdań ...

Wrocław Wrocław is a city in southwestern Poland, and the capital of the Lower Silesian Voivodeship. It is the largest city and historical capital of the region of Silesia. It lies on the banks of the Oder River in the Silesian Lowlands of Central Eu ...

Łódź Łódź is a city in central Poland and a former industrial centre. It is the capital of Łódź Voivodeship, and is located south-west of Warsaw. Łódź has a population of 655,279, making it the country's List of cities and towns in Polan ...

Poznań Poznań ( ) is a city on the Warta, River Warta in west Poland, within the Greater Poland region. The city is an important cultural and business center and one of Poland's most populous regions with many regional customs such as Saint John's ...

Szczecin Szczecin ( , , ; ; ; or ) is the capital city, capital and largest city of the West Pomeranian Voivodeship in northwestern Poland. Located near the Baltic Sea and the Poland-Germany border, German border, it is a major port, seaport, the la ...

Lublin Lublin is List of cities and towns in Poland, the ninth-largest city in Poland and the second-largest city of historical Lesser Poland. It is the capital and the centre of Lublin Voivodeship with a population of 336,339 (December 2021). Lublin i ...

Toruń Toruń is a city on the Vistula River in north-central Poland and a World Heritage Sites of Poland, UNESCO World Heritage Site. Its population was 196,935 as of December 2021. Previously, it was the capital of the Toruń Voivodeship (1975–199 ...

Sopot Sopot (; or ) is a seaside resort city in Pomerelia on the southern coast of the Baltic Sea in northern Poland, with a population of approximately 40,000. It is located in Pomeranian Voivodeship, Pomerania Province and has the City with powiat ri ...

Zakopane Zakopane (Gorals#Language, Podhale Goral: ''Zokopane'') is a town in the south of Poland, in the southern part of the Podhale region at the foot of the Tatra Mountains. From 1975 to 1998, it was part of Nowy Sącz Voivodeship; since 1999, it has ...

, and the Wieliczka Salt Mine. The best recreational destinations include Poland's

Masurian Lake District The Masurian Lake District or Masurian Lake Land () is a lake district in northeastern Poland Poland, officially the Republic of Poland, is a country in Central Europe. It extends from the Baltic Sea in the north to the Sudetes and Carpath ...

Baltic Sea The Baltic Sea is an arm of the Atlantic Ocean that is enclosed by the countries of Denmark, Estonia, Finland, Germany, Latvia, Lithuania, Poland, Russia, Sweden, and the North European Plain, North and Central European Plain regions. It is the ...

coast, Tatra Mountains (the highest mountain range of the

Carpathians The Carpathian Mountains or Carpathians () are a range of mountains forming an arc across Central Europe and Southeast Europe. Roughly long, it is the third-longest European mountain range after the Urals at and the Scandinavian Mountains ...

Sudetes The Sudetes ( ), also known as the Sudeten Mountains or Sudetic Mountains, is a geomorphological subprovince of the Bohemian Massif province in Central Europe, shared by the Czech Republic, Poland and Germany. They consist mainly of mountain rang ...

, and

Białowieża Forest Białowieża Forest is a large forest complex on the border between Poland and Belarus. It is one of the last and the largest remaining part of the immense primeval forest that once stretched across the European Plain. The forest is home to more ...

. Poland's main tourist offers consist of sightseeing within cities and out-of-town historical monuments, business trips, qualified tourism,

agrotourism Agritourism or agrotourism involves any agriculturally based operation or activity that brings visitors to a farm or ranch. It encompasses a wide range of activities, including direct-to-consumer sales such as farm stands and u-pick, agricultu ...

mountain hiking A hike is a long, vigorous walking, walk, usually on trails or footpaths in the countryside. Walking for pleasure developed in Europe during the eighteenth century. Long hikes as part of a religious pilgrimage have existed for a much longer tim ...

(trekking), and

climbing Climbing is the activity of using one's hands, feet, or other parts of the body to ascend a steep topographical object that can range from the world's tallest mountains (e.g. the eight thousanders) to small boulders. Climbing is done for locom ...

among others.

Financial sector

The Polish banking sector is regulated by the

Polish Financial Supervision Authority The Polish Financial Supervision Authority, in Polish Urząd Komisji Nadzoru Finansowego (UKNF) is the main financial regulatory authority for Poland. UKNF was established in 2019 as a separate legal person under public law. It hosts the Financial ...

(PFSA). While transforming the country to a market-oriented economy during 1992–97, the government privatized some banks, recapitalized the rest, and introduced legal reforms that made the sector competitive. These reforms, and the health and relative stability of the sector, attracted a number of strategic foreign investors. At the beginning of 2009, Poland's banking sector had 51 domestic banks, a network of 578 cooperative banks and 18 branches of foreign-owned banks. In addition, foreign investors had controlling stakes in nearly 40 commercial banks, which made up 68% of the banking capital. Banks in Poland reacted to the

by restraining lending, raising interest rates, and strengthening balance sheets. Subsequently, the sector started lending again, with an increase of more than 4% expected in 2011.

Venture capital

The segment of the

private equity Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...

market that finances early-stage high-risk companies, with the potential for fast growth, had 130 active firms in Poland (as of March 2019). Between 2009 and 2019, these entities have invested locally in over 750 companies, an average of 9 companies per portfolio. Since 2016, new legal institutions have been established for entities investing in enterprises in the

seed In botany, a seed is a plant structure containing an embryo and stored nutrients in a protective coat called a ''testa''. More generally, the term "seed" means anything that can be Sowing, sown, which may include seed and husk or tuber. Seeds ...

or startup phase. In 2018, venture capital funds invested in Polish startups (0.033% of GDP). As of March 2019, total assets managed by VC companies operating in Poland are estimated at . The total value of investments of the Polish VC market is .

Transportation

Poland is served by an extensive network of railways. In most cities, the main railway station is located near a city centre and is well connected to the local transportation system. The infrastructure is operated by

Polish State Railways The Polish State Railways ( , abbr.: PKP S.A.) is a Polish state-owned holding company (legally a sole-shareholder company of the State Treasury) comprising the rail transport holdings of the country's formerly dominant namesake railway oper ...

, part of state-run PKP Group. The rail network is very dense in western and northern Poland, while the eastern part of the country is less developed. The capital city, Warsaw, has the country's only

rapid transit system Rapid transit or mass rapid transit (MRT) or heavy rail, commonly referred to as metro, is a type of high-capacity public transport that is generally built in urban areas. A grade separated rapid transit line below ground surface through a t ...

: the

Warsaw Metro The Warsaw Metro () is a rapid transit underground system serving the Poland, Polish capital Warsaw. It currently consists of two lines, the north–south M1 (Warsaw), M1 line which links central Warsaw with its densely populated northern and sou ...

. Poland's busiest airport is

Warsaw Chopin Airport Warsaw Chopin Airport (, ) is an international airport in the Włochy district of Warsaw, Poland. It is the busiest airport in Poland and the 28th busiest airport in Europe with 21.3 million passengers in 2024, handling approximately 40% of ...

. Warsaw Chopin serves as the main international hub for Poland's flag carrier

LOT Polish Airlines LOT Polish Airlines, legally Polskie Linie Lotnicze LOT S.A. (, ''flight''), is the flag carrier of Poland. A founding member of IATA, it is one of the world's oldest airlines. With a fleet of 87 aircraft as of June 2025, LOT is Europe's 16th ...

. In addition to Warsaw Chopin, Wrocław, Gdańsk,

Katowice Katowice (, ) is the capital city of the Silesian Voivodeship in southern Poland and the central city of the Katowice urban area. As of 2021, Katowice has an official population of 286,960, and a resident population estimate of around 315,000. K ...

, Kraków, and Poznań all have

international airport An international airport is an airport with customs and border control facilities enabling passengers to travel between countries. International airports are usually larger than domestic airports, and feature longer runways and have faciliti ...

s. In preparation for the

Euro 2012 The 2012 UEFA European Football Championship, commonly referred to as UEFA Euro 2012 or simply Euro 2012, was the 14th European Championship for men's national football teams organised by UEFA. The final tournament, held between 8 June and 1 ...

football championships jointly hosted by Poland and

Ukraine Ukraine is a country in Eastern Europe. It is the List of European countries by area, second-largest country in Europe after Russia, which Russia–Ukraine border, borders it to the east and northeast. Ukraine also borders Belarus to the nor ...

, a number of airports around the country were renovated and redeveloped. This included the building of new terminals with an increased number of jetways and stands at both

Wrocław Airport Wrocław Nicolaus Copernicus Airport () is an international civil-military airport in Wrocław in Lower Silesian Voivodeship in southwestern Poland. It is Poland's 5th busiest airport. In 2023, it handled over 3.8 million passengers. The airport ...

and

Lech Wałęsa Airport Lech is an English word referring to lecherous behavior or person. Lech may also refer to: People * Lech (name), a name of Polish origin * Lech, founder of Poland, the figure from the legendary Lech, Czech, and Rus * Lech (Bohemian prince) (d. 8 ...

. Poland has 412,264 km (256,170 mi) of public roads. Polish public roads are categorised by administrative division, which include national roads,

voivodeship road According to classes and categories of public roads in Poland, a voivodeship A voivodeship ( ) or voivodate is the area administered by a voivode (governor) in several countries of central and eastern Europe. Voivodeships have existed sinc ...

s, Powiat roads, and Gmina roads.

Motorway A controlled-access highway is a type of highway that has been designed for high-speed vehicular traffic, with all traffic flow—ingress and egress—regulated. Common English terms are freeway, motorway, and expressway. Other similar terms ...

s and expressways are part of the national road network. As of May 2025, there are 5,205.5 km of motorways and expressways in use.

Major companies in Poland

Selection of major Polish companies including from the list of 500 largest companies in Poland compiled by magazine ''

Polityka ''Polityka'' (, ''Politics'') is a centre-left weekly news magazine in Poland. It had a circulation of 95,300 during 2021. ''Polityka'' has a slightly intellectual, socially liberal profile, setting it apart from the more conservative ''Wprost ...

'':

Currency

Budget and debt

The public and private debt levels of Poland are below the European average (2017).

GDP growth in Poland

Recent GDP growth (comparing to the same quarter of previous year):

Location

Poland has an excellent location for transporting locally made components or products to the rest of Europe. For example, when moving production from China, the new factory in Poland can move their goods in 24 hours to the most populated parts of Europe, and in 48 hours to all of Europe.

Potential of the Polish economy in the EU

Poland, measured by the purchasing power parity index, is the sixth-largest economy in the European Union and the eighth-largest economy in Europe, slightly ahead of the Netherlands. Poland recorded GDP growth even during the

. The unemployment rate in the country remains very low and amounted to 5% in September 2023. Although the Polish economy is catching up with Western European countries, this has been a slow process. So far, taking into account the level of social development, Poland has managed to overtake

Portugal Portugal, officially the Portuguese Republic, is a country on the Iberian Peninsula in Southwestern Europe. Featuring Cabo da Roca, the westernmost point in continental Europe, Portugal borders Spain to its north and east, with which it share ...

. There is a great deal of variation between regions.

Masovian Voivodeship Masovian Voivodeship or Mazowieckie Province (, ) and any variation thereof, is a Voivodeships of Poland, voivodeship (province) in east-central Poland, containing Poland's capital Warsaw. Masovian Voivodeship has an area of and had a 2019 po ...

is on a similar level to the richest regions of

Spain Spain, or the Kingdom of Spain, is a country in Southern Europe, Southern and Western Europe with territories in North Africa. Featuring the Punta de Tarifa, southernmost point of continental Europe, it is the largest country in Southern Eur ...

and most regions of France (82% of the EU average). However, it should be remembered that the GDP of this voivodeship is mainly generated by Warsaw.

Lower Silesian Voivodeship Lower Silesian Voivodeship (, ) in southwestern Poland, is one of the 16 Voivodeships of Poland, voivodeships (provinces) into which Poland is divided. It covers an area of and has a total population of 2,899,986. It is one of the wealthiest ...

with a GDP of $16,000 is on par with Portugal and the regions of Spain and

Greece Greece, officially the Hellenic Republic, is a country in Southeast Europe. Located on the southern tip of the Balkan peninsula, it shares land borders with Albania to the northwest, North Macedonia and Bulgaria to the north, and Turkey to th ...

. Subsequent voivodeships reached about 50% of the EU average, and the poorest voivodships of the eastern wall have GDP per capita comparable to

Romania Romania is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern and Southeast Europe. It borders Ukraine to the north and east, Hungary to the west, Serbia to the southwest, Bulgaria to the south, Moldova to ...

and

Bulgaria Bulgaria, officially the Republic of Bulgaria, is a country in Southeast Europe. It is situated on the eastern portion of the Balkans directly south of the Danube river and west of the Black Sea. Bulgaria is bordered by Greece and Turkey t ...

. Polish capital has several large concerns in this region of Europe, i.e. PKN Orlen, which has its stations in Germany and

Lithuania Lithuania, officially the Republic of Lithuania, is a country in the Baltic region of Europe. It is one of three Baltic states and lies on the eastern shore of the Baltic Sea, bordered by Latvia to the north, Belarus to the east and south, P ...

, Polsat, which also invests in Lithuania, the ITI Group. Poland has a highly developed road network, most of the A1, A2, A4 highways and expressways, including S6 and S7, are fully completed. The next ones are to be ready by 2023. Their construction by private companies is financed in part by the EU. In the coming years, Poland is to receive approximately EUR 4.5 billion for the modernisation of railways. Poland is one of the key immigration destinations in the EU, having attracted more non-EU immigrants, already in 2021 mostly from Ukraine, than any other EU country for a few consecutive years.

International rankings

* 36th in

Human Development Index The Human Development Index (HDI) is a statistical composite index of life expectancy, Education Index, education (mean years of schooling completed and expected years of schooling upon entering the education system), and per capita income i ...

(2022) * 37th in

Inequality-adjusted Human Development Index This is a list of countries by inequality-adjusted Human Development Index (IHDI), as published by the UNDP in its 2025 Human Development Report. According to the 2016 Report, "The IHDI can be interpreted as the level of human development when ...

(2022) * 25th in Average Wage Index (2023) * 39th in

Democracy Index The ''Democracy Index'' published by the Economist Group is an index measuring the quality of democracy across the world. This quantitative and comparative assessment is centrally concerned with democratic rights and democratic institutions. ...

(2024) * 7th in

Henley Passport Index The Henley Passport Index is a global ranking of countries according to the travel freedom allowed by those countries' ordinary passports for their citizens. It was launched in 2005 as Henley & Partners Visa Restrictions Index and was updated ...

(2025) * 4th in

The Passport Index The Passport Index is an interactive online tool by Arton Capital that provides its users with insights about passports, including the ability to compare and rank the world's passports. Rankings are based on the freedom of movement and visa-free ...

(2025) * 27th in

OECD Better Life Index The OECD Better Life Index, created in May 2011 by the Organisation for Economic Co-operation and Development, is an initiative pioneering the development of economic indicators which better capture multiple dimensions of economic and social pro ...

(2020) * 23rd in

Human Capital Index The Human Capital Index (HCI) is an annual measurement prepared by the World Bank. HCI measures which countries are best in mobilizing their human capital, the economic and professional potential of their citizens. The index measures how much capit ...

(2020) * 25th in

Quality of Nationality Index The Quality of Nationality Index (QNI) ranks the quality of nationalities based on internal and external factors. Each nationality receives an aggregated score based on economic strength, human development, ease of travel, political stability a ...

(2018) * 37th in

Legatum Prosperity Index The Legatum Prosperity Index is an annual ranking developed by the Legatum Institute, an independent educational charity founded and part-funded by the private investment firm Legatum. The ranking is based on a variety of factors including wealt ...

(2023) * 36th in

Social Progress Index The Social Progress Index (SPI) measures the extent to which countries provide for the social and environmental needs of their citizens. Fifty-four indicators in the areas of basic human needs, foundations of well-being, and opportunity to prog ...

(2023) * 15th in

EF English Proficiency Index The EF English Proficiency Index (EF EPI) attempts to rank countries by the equity of English language skills amongst those adults who took the EF test.

(2024) * 40th in

Ease of Doing Business Ease or EASE may refer to: Computing * Ease (programming language) * Enhanced Acoustic Simulator for Engineers, software for optimizing acoustics Health and medicine * Methylone, marketed briefly in New Zealand as Ease *Examination of Anomalous ...

(2020) * 21st in

(2023) * 37th in

Global Competitiveness Report The ''Global Competitiveness Report'' (GCR) was a yearly report published by the World Economic Forum. Between 2004 and 2020, the ''Global Competitiveness Report'' ranked countries based on the Global Competitiveness Index, developed by Xavier Sa ...

(2019) * 40th in

Index of Economic Freedom The ''Index of Economic Freedom'' is an annual index and ranking created in 1995 by The Heritage Foundation and ''The Wall Street Journal'' to measure the degree of economic freedom in the world's nations. The creators of the index assert that ...

(2024) * 32nd in

Global Peace Index The Global Peace Index (GPI) is a report produced by the Australia-based NGO Institute for Economics & Peace (IEP) which measures the relative position of nations' and regions' peacefulness. The GPI ranks 163 independent states and territories ...

(2024) * 47th in

Corruption Perceptions Index The Corruption Perceptions Index (CPI) is an index that scores and ranks countries by their perceived levels of public sector corruption, as assessed by experts and business executives. The CPI generally defines corruption as an "abuse of entr ...

(2023) * 40th in

Global Innovation Index The Global Innovation Index is an annual ranking of countries by their capacity for and success in innovation, published by the World Intellectual Property Organization (WIPO). It was started in 2007 by INSEAD and ''World Business'', a Britis ...

(2024) * 27th in

Good Country Index The Good Country Index measures how much each of the 163 countries on the list contribute to the planet, and to the human species, through their policies and behaviors. Top 50 overall rank (version 1.5) 2018 top 10 overall rank (version 1 ...

(2022) * 31st in

Press Freedom Index The World Press Freedom Index (WPFI) is an annual ranking of Country, countries compiled and published by Reporters Without Borders (RSF) since 2002 based upon the non-governmental organization's own assessment of the countries' Freedom of the ...

(2025)

Notes

References

* Worldmark Encyclopedia of National Economics, Volume 4 – Europe, Gale Group, 2002,
Economic data from Eastern European Markets (ceeMarket.com)

External links

www.paiz.gov.pl

Attractiveness Europe 2007
*
Articles on Polish economy in Central and Eastern European Packaging magazine

OECD's Poland country Web site
an
OECD Economic Survey of Poland

Business Portal for Poland

World Bank Summary Trade Statistics Poland
* Tariffs applied by Poland as provided by ITC'
ITC Market Access Map
an online database of customs tariffs and market requirements {{Economy of Europe