Destinations > Europe > Poland

Poland Economy

Flag of Poland

Poland has enjoyed nearly 20 years of growth as it has transitioned from central planning to a market economy. Growth slowed and unemployment shot up following the disruptions of the Russian financial crisis in the late 1990s, but by 2003, healthy growth rates had returned and unemployment had begun to fall. Today, four years of growth averaging nearly 5.5% have increased average Polish incomes and reduced unemployment to 6.4% in October 2008. While Poland's banking system has escaped the global economic crisis relatively unscathed, growth is again beginning to slow due to weakness in Poland's key export markets and concomitant weakness in domestic investment. Third quarter growth in 2008 was down to 4.8%, and economists are still marking down projections for 2009.

In a September 2008 speech at the Krynica Economic Forum, Prime Minister Tusk announced Poland's intention to meet all Euro accession criteria by the end of 2011 and to join the Euro on January 1, 2012. While Poland appears able to meet the Maastricht criteria for entry into the European Exchange Rate Mechanism and the Euro, the government must also move constitutional changes through the Polish parliament before adopting the common European currency. It cannot do that without the support of at least some members of the opposition Law and Justice (PiS) party, which has stated its support for a referendum to determine the date of Euro accession.

GDP (2007): $420 billion.
Real GDP growth (2007): 6.6%.
Per capita GDP (2007): $11,030.
Rate of inflation (2007, average): 2.5%.
Natural resources: Coal, copper, sulfur, natural gas, silver, lead, salt.
Agriculture: Products--grains, hogs, dairy, potatoes, horticulture, sugar beets, oilseed.
Industry: Types--machine building, iron and steel, mining, shipbuilding, automobiles, furniture, textiles and apparel, chemicals, food processing, glass, beverages.
Trade (2007): Exports--$143.7 billion: furniture, cars, ships, coal, apparel. Imports--$158.8 billion: crude oil, passenger cars, pharmaceuticals, car parts, computers.

Information by U.S. Department of State

Poland Gallery

Warsaw, the Old Town Warsaw, the Royal Castle Wroclaw, Ostrow Tumski Wroclaw, Market Square 

There are 5 pictures in our Poland gallery. Click the thumbnail to enter.

Wired Tourist Articles

The Natural Wonders of Vietnam

Vietnam is considered to be one of the top twenty five regions in the world to possess a high level of bio diversity, making Vietnam holidays interesting and beautiful. Hosting two World Heritage sites and six World Biosphere Reserves, the natural wonders in the country are plentiful...

« read full article »

Explore the Australian Outback

Taking a trip to Australia should create memories never to be forgotten but it is such a large country it could be difficult to decide exactly where you should explore. There are many different exciting places to visit on your Australian trip, but there are a few special places you canít afford to miss, and one of the most popular is Alice Springs.

« read full article »

Home | Travel Destinations | Travel News | Travel Directory | Volcano Tours | Gallery | Site Index | Contact
Follow us on   Follow us on YouTube  YouTube   Follow us on Flickr  Flickr   Follow us on Twitter  Twitter