POLAND

Global Trade Volume of Poland

Poland, a medium-sized European country, has considerable economic potential. Due to the increase in GDP, its share in the world economy has also risen in recent years. As a result of privatization in the country, Central European countries have the largest foreign capital investment in the country. Poland is the only European country that has shown positive growth in recent years for reasons such as the uninterrupted expansion of foreign capital, continued infrastructure investments, and the impact of consumption spendings on the financial crisis. Since 2016, PraeGlobal has played an active role in Poland, which has maintained a successful export performance behind the increase in GDP.

South Korean Economic Data

	2016a	2017a	2018b	2019b	2020b
Population (million)	37,97	37,97	37,96	37,94	37,92
Per capita GDP ($)	12,411	13,823	16,180	17,130	18,045
GDP (billion $)	741,22	524,89	614,19	649,97	684,26
Current account balance (billion $)	-1,37	0,25	-5,39	-7,91	-9,83
Export ($)	196,5	–	–	–	–
Import ($)	188,5	–	–	–	–
Jobless rate	–	–	–	–	–
Foreign trade volume	385	–	–	–	—
Inflation rate (CIP, annual change %)	-0,58	1,98	2,52	2,55	2,50

General Economic Structure

The Poland economy entered a productive period with the 2000s. It doubled its GDP compared to 2004. This increase was reflected in per capita income. The Polish government has struggled with unemployment and managed to reduce unemployment with the help of foreign investors.

Trade Qualities

Agriculture and Stock Raising
The importance of agriculture in the country is very great. However, the share of agricultural sector in GDP was 4%. The share of agricultural sector in total employment is also falling from year to year. Poland has an important place in Europe and the world in the production of some agricultural products. Poland, the European winner in Apple production, is second in the world and Europe in the production of rye, raspberry and grapes. Onions, strawberries, potatoes, wheat, sugar beets, pork and milk production ranked among the top ten in the world. 61% of the country’s surface area is agricultural area. Livestock farming in Poland is not as good as agriculture. Pork and cattle are the most important sources of livestock.
Industry
Mainly engaged in the production of iron and steel in modernized facilities in the south of the country to provide inputs to shipbuilding, automotive and infrastructure construction. In particular, there is a foreign capital-intensive side industry that supports the automotive sector. The largest manufacturer of LCD screens in the EU. In the aviation industry, there is the production of helicopters and light aircraft.
Mining
The main mining products in Poland are lead, zinc, copper, silver and coal, which are the producers of good quality hard coal and lignite according to European standards. Mining and quarrying accounted for 4.9% of industrial production. In Poland, 533 thousand tons of copper and 1,215 tons of silver are produced annually.
Building
In Poland, where many construction companies have been privatized, housing, home, office and hotel constructions in large cities have also opened new business areas. The cement sector is also a major exporter in Poland’s construction sector.
Transportation and Telecommunications
The advancement of technology and the technological infrastructure are significantly improved in the large cities of Poland, while national communication is effective and inadequate in rural areas. In Poland, where 96 companies operate for fixed-line telecommunications, approximately 85% of the market is a national operator.
Energy
The country’s main energy source is coal. There are 20 power plants and 52 thermal power plants in the country. Annual electricity production is 162 TWh. 30% of natural gas is imported from the Russian Federation in the country. Petroleum and natural gas imports are balanced with the export of anthracite. Poland has increased investment in renewable energy sources in recent years. There are many foreign capital investments in wind energy. The Polish government has announced that it will begin production of nuclear energy by 2020.

Situation affecting Poland Economy

The most important factor affecting the economy is Poland’s full membership in the European Union. During the period following its membership, significant improvements have been made in the areas of raising living standards, modernizing the economy and reducing unemployment. Trade with EU countries increased by 70% after full membership.

If you want to improve your business by investing in Poland, which is open to foreign capital, we are ready to offer you consultancy services as PraeGlobal. We are ready to share our knowledge with you as we have mastered all laws and economic opportunities in the country. We will provide all kinds of support for your company and we will be with you with all consultancy services with our expert staff in the process of establishment of your company.

With PraeGlobal’s active staff, you will feel like you are at home even you are in abroad.

Contact Forms

www.praeglobal.com

[email protected]