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Economy of a Country: Poland

Natalia Czernecka

Some Background:

Poland helped bring down the Soviet Union in 1990, joined NATO in 1999, and became a member of the European Union in 2004.

Poland's resilience was proven during the financial crisis of 2008/9 when it was actually the only EU country to avoid recession.

Encouraged by a strong manufacturing sector and infrastructure investment, Poland has become the EU's 8th largest economy, although it is somewhat constrained by some labor shortages.

let's take a look

THE DEMOGRAPHICS

The Demographics of Poland:

  • Capital City: Warsaw

  • population: 38.0 Million

  • Ethnicity: Polish 96.9%, Silesian 1.1%, German 0.2%, Ukrainian 0.1%, other and unspecified 1.7%

Economic Ventures

Poland is classified as a high-income economy by the World Bank and ranks 21st worldwide in terms of GDP (nominal)

-Poland has a mixed Economic System

-GDP by Sector:

agriculture: 2.4%

industry: 46.2%

services: 57.4%

Nominal GDP: 565.854 billion (2019)

GDP PPP: 1.2 trillion

GDP growth (annual %): 4.1% (2019) however if we look at the GDP growth for this year...

REAL GDP FROM 2009 TO 2021

GDP

Unemployment

Macro-econ

  • Unemployment rates have gone up (March2020)
  • Currently 3.10%, previously reported being 2.9%

Covid Conscious

(unemploy.)

Registered Uneploy. rate during Covid-19

5.4%

+ 6.1 %

Inflation

INFLATION

  • For the most part, moderately low Inf. Rate
  • confirmed inflation rate of 3.3% in June
  • Prices climbed 0.6%

Imports + Exports

continued...

  • Poland's main export partners are: Germany, France, the United Kingdom, the Czech Republic, Italy and Russia

  • The main import partners are Germany, Italy, France, Russia and China.

Thank you!

Works cited

Poland Inflation Rate1992-2020 Data: 2021-2022 Forecast: Calendar: Historical. (n.d.). Retrieved July 30, 2020, from https://tradingeconomics.com/poland/inflation-cpi

Poland Nominal GDP [1995 - 2020] [Data & Charts]. (2020, March 01). Retrieved July 30, 2020, from https://www.ceicdata.com/en/indicator/poland/nominal-gdp

Poland Unemployment Rate [1999 - 2020] [Data & Charts]. (2020, March 01). Retrieved July 30, 2020, from https://www.ceicdata.com/en/indicator/poland/unemployment-rate

Www.companyincorporationpoland.com. (n.d.). Imports and Exports in Poland. Retrieved July 30, 2020, from https://www.companyincorporationpoland.com/imports-and-exports-in-poland

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