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KEY FACTS AND FIGURES ON POLISH ECONOMY AND INVESTMENT

Send Print Download added: Katarzyna Crompton | 2016-10-30 07:53:12
polish economy, key facts,

Ministry of Development in Poland, Department of Strategy and Development Data: CSO, Eurostat, October 2016

 
Poland is a perfect business partner – is a country of enterprising people, a “crisis-resistant” economy, offering a wide range of investment opportunities. Because of its economic and financial stability, predictability, well-educated labour force and openness to FDI, Poland is interesting place not only for new investments, but also for reinvestments. Since more than 25 years, Poland has been building up its position in the world, becoming more and more appreciated location for foreign capital every year. Each year improves a number of economic indicators: both in the production sphere and in the labour market. In the opinion of both the government as international experts, i.e.: the OECD, the IMF and the European Commission, Poland can achieve good results in 2016-2017 and being one of the fastest growing economies in the EU.
 
Economic growth: GDP growth in Poland will amount to 3.8% in 2016, due to an increase in investment and consumption. The third quarter of 2016 is characterized by the economic stability in the region and significant investments in infrastructure financed by the EU funds which will continue to support the productivity and GDP growth.
Export and Trade Balance: Polish trade deficit widened sharply to €509 million in August of 2016 compared to €185 million shortfall a year ago. Year 2015 brought a slight acceleration of export growth, to 7.8% (EUR 178.7 billion) and almost 2-fold slowdown in imports, to 3.9% (EUR 175 billion). This resulted in generating - for the first time since we record turnover in euro terms – substantial trade surplus of EUR 3.7 billion. This was due to a combination of several factors, including: falling oil prices, depreciation of the Polish zloty against the dollar and the situation on foreign markets.
Foreign trade - exports grows faster than imports According to the data from GUS ( Central Statistical Office of Poland) , imports picked up the pace while exports stabilized in 2014. PLN-denominated exports in current prices were higher by 5.3% y/y and amounted to PLN 682.36 billion. Imports, in turn grew by 5.6% y/y, hitting the level of PLN 692.57 billion. The geographical structure of Poland’s foreign trade slightly shifted in 2014: the share of developed countries (including the EU member states) decreased y/y, while the share of developing countries as well as Central Eastern European countries increased. The shift might be seen as a sign that in the face of the economic slowdown in the Western European countries, Polish companies are searching for trade partners on other, more prospective markets.
Exports grew strongly, where exports of highly processed goods increased including machinery and mechanical equipment and parts, electrical machines and equipment, vehicles and accessories, as well as exports of food products increased, such as: agricultural and food products, non-alcoholic and alcoholic beverages, animal products and high tech products: aviation equipment, computers - office equipment, electronics - telecommunications, pharmaceuticals, scientific and research equipment, electrical machinery, non-electrical machinery, chemicals and armament.
Foreign Direct investment in Poland Companies with foreign capital and investments in the last decades influenced on qualitative changes in the Polish economy such as they resulted in increased technological advancement that led to increased effectiveness, diffusion of technology and more processed capital-intensive goods production and export. Foreign companies have contributed to the modernization of industry and production processes while majority of FDI goes to services and manufacturing. Currently the service sector including modern business services plays increasingly important role in the Polish economy. At the end of 2014 the FDI stock in Poland exceeded EUR 171 billion. The main investors were companies from: Netherlands, Germany, Luxembourg and France. Important role have played also US companies, investing via affiliates in Netherlands or Luxembourg. Each year, there are more new investments in BPO Canters (outsourcing of business processes), SSC (shared services canters), IT and R&D. Apart from that, interesting investment opportunities are related to the following sectors: automotive, aviation, electronics, biotechnology, renewable energy and the food sector. Finally investors can benefit from investment incentives offered in 14 Special Economic Zones and many scientific and technical parks located throughout the country.
 



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