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Since the democratic changes in Poland's economy from 1990 onwards, the country has undergone an impressive transformation. The government continues a liberalization and deregulation course, which included the privatization of state enterprises. The largest IPO of a private, national company in Warsaw was the Energa SA Gdansk in December 2013, with a volume of 2.2 billion zloty.
Polish GDP current stands 526 billion USD, leading to a per capita income of 13,657 USD. The gross value addition is carried out to almost 64 percent in the service sector and 32.6 percent in industry. Nearly 80 percent of the GDP comes from the private sector, which employs nearly 75 percent of the labor force. The unemployment rate stood at 11 percent in 2014.
Falling prices of oil, foods and commodities mean that the Polish economy has steadily crossed into the realm of deflation from an already low inflation. The inflation rate stood at -0.5 percent in July of 2015.
The Polish foreign trade has dynamically developed in recent years on both the import and export front. The focus of foreign trade, however, continue to be the EU member states, which account for almost 78 percent of Poland’s exports and nearly 60 percent of imports. Germany, by far the largest trading partner of Poland followed by China, Russia, Italy, France and Great Britain.
Why invest in Poland?
- The Polish economy is good at absorbing shocks, both internal and external. This was the reason why the country managed to avoid slipping into recession even during the debt crisis in the Eurozone – the only country to do so. It recorded a consistently positive GDP growth, both through and after the crisis.
- Business-friendly government policies, the appropriate use of EU funds for a consistent expansion of infrastructure, high workforce motivation, flexible labor laws, fiscal stability and the pursuit of innovation are some of the many reasons why international investors are pouring capital into Poland.
- At the start of 2014, Poland recorded a trade deficit of 2.7 billion euros. However, the situation turned on his within 7 months as the sizeable deficit turned into a surplus of 2 billion euros. This goes on to show the exponentially growing activity of Polish companies in international markets.
- Poland has one of the biggest domestic markets in Europe, at 38 million people. Furthermore, its central location in Europe makes for the intersection of major continental routes. Thus allowing Polish companies to easily reach a market of 500 million individuals.
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