Poland

Czech Republic
Poland
Slovakia
Hungary
Germany
France
Basic Information

38.0 million

Area

Population

Workforce

Language

Political System

Currency

Membership

17.6 million

Polish

Parliamentary democracy

Polish Zloty (PLN)

EU , NATO, OECD, OSCE, Schengen agreement, V4, UN, Council of Europe…

Warsaw

Capital

312,685  sqkm

Czech Republic
Poland
Slovakia
Germany
France
Hungary
Germany
Spain
United Kingdom
Ireland
Romania
Luxembourg
Netherlands
Slovenia
Italy
Bulgaria
Austria
Croatia
Belgium
Portugal
Malta
Estonia
Latvia
Lithuania
Greece
Sweden
Denmark
Finland
Cyprus
Malta
Estonia
Latvia
Lithuania
Greece
Sweden
Denmark
Finland
Cyprus

Poland is a country located in Central Europe bounded to the north by the Baltic Sea and two mountain ranges in the south, the Sudetes and the Carpathians. The country is bordered by 7 countries: Germany, the Czech Republic, Slovakia, Ukraine, Belarus, Lithuania and the Kaliningrad (Russian territory).

Agriculture was the primary economic activity in Poland before World War II. About 70% of the population were farmers at that time. The economy grew significantly in the 1930s after industrialization. Currently, The largest component of its economy is the service sector (62.3.%), followed by industry (34.2%) and agriculture (3.5%). Among the industrial sectors, automotive production accounts for 11% of Poland’s total industrial output and about 4% of the country’s GDP.

Poland has introduced a policy of economic liberalization since 1990, and it was the only EU economy not to experience a recession in the global economic downturn in 2007. The main reason is that GDP is largely driven by Polish consumption. As of 2017 the Polish economy has been growing steadily for the past 26 years, a record high in the EU. Foreign direct investment (FDI) reached 48.5% of GDP in 2017.
Major Industries

Automotive

Agriculture

Food Processing

Energy

Major Trade Partners

Export

Germany, China, Russia, Italy, France, Netherlands, Czech Republic, USA, Belgium, UK

Import

Germany, UK, Czech Republic, France, Italy, Netherlands, Russia, USA, Spain, Sweden

Reasons to Invest

  • Country with the largest population in CEE (6thlargest in the EU)                                
  • World 2nd most popular investment destination (2018)
  • Stable political system
  • Strong and solid prospects of economic growth
  • Great geographical location (large Central European hub)
  • Comparatively low labor cost
  • Long history of agriculture and manufacturing
  • Low trade and investment risks

50.6 %

1,334 USD

General government debt (GDP, 2017)

Long-term interest rates (10Y government bonds)

Average inflation rate (2018)

Labour productivity (index, 2018)

Unemployment rate (avg. 2018)

Average nominal gross wage (12/2018)

0.28 %

1,182 EUR

3.73

4.29

A-

1.81 %

145.90

3.9 %

7.60 %

GDP growth (constant prices, 2017)

4.8 %

5,071 PLN

Average nominal monthly gross wage (2018)

Average nominal monthly gross wage (2018)

Average nominal monthly gross wage (2018)

Exchange rate - PLN/USD (31/12/2018)

Exchange rate - PLN/EUR (31/12/2018)

Credit rating (S&P, 2017)

Economic Indicators

40 hours / week

32%

Maximum Working Hours

Maximum Overtime Hours

Compensation for Overtime / Holiday Work

Minimum Number of Paid Holidays

Sick Days

Maternity Leave

Parental Leave

Social Security (Companies)

Notice Period

Social Security (Employees)

Probation Period

Labour Union (Proportion of Employee/Collective Bargaining Coverage)

8 hours / week
150 hours / year

23%

50% plus

20 days or 26 days

Reach to 12 months

22.41%

3 months

13.71%

3 months

10 % / 10-15 %

Sickness benefit

20 -37 weeks

Minimum Wage (2019)

2,250 PLN / month

19%

Corporate Tax

Income Tax

Value Added Tax (VAT)

Other Tax:

Excise Duty

Property Tax

Taxation System
Labour Regulations
Source: World Atlas, Trading Economics, Eurostat, World Bank, Inflation EU, Exchange Rate ORG