Poland Business Resources

Economy - overview:
Poland has steadfastly pursued a policy of economic liberalization throughout the 1990s and today stands out as a success story among transition economies. Even so, much remains to be done, especially in bringing down unemployment. The privatization of small and medium-sized state-owned companies and a liberal law on establishing new firms has encouraged the development of the private business sector, but legal and bureaucratic obstacles alongside persistent corruption are hampering its further development. Poland's agricultural sector remains handicapped by surplus labor, inefficient small farms, and lack of investment. Restructuring and privatization of "sensitive sectors" (e.g., coal, steel, railroads, and energy), while recently initiated, have stalled. Reforms in health care, education, the pension system, and state administration have resulted in larger-than-expected fiscal pressures. Further progress in public finance depends mainly on reducing losses in Polish state enterprises, restraining entitlements, and overhauling the tax code to incorporate the growing gray economy and farmers, most of whom pay no tax. The government has introduced a package of social and administrative spending cuts to reduce public spending by about $17 billion through 2007. Additional reductions are under discussion in the legislature but could be trumped by election-year politics in 2005. Poland joined the EU in May 2004, and surging exports to the EU contributed to Poland's strong growth in 2004, though its competitiveness could be threatened by the zloty's appreciation. GDP per capita roughly equals that of the three Baltic states. Poland stands to benefit from nearly $13.5 billion in EU funds, available through 2006. Farmers have already begun to reap the rewards of membership via higher food prices and EU agricultural subsidies.

Agriculture
potatoes, fruits, vegetables, wheat; poultry, eggs, pork

Airlines
Airlines in Europe
Airlines Worldwide

Airports
Airports in Europe
Airports Worldwide

Country Budget
revenues: $44.52 billion
expenditures: $54.93 billion, including capital expenditures of NA (2004 est.)

Currency (code)
zloty (PLN)

Currency Exchange Rate
zlotych per US dollar - 3.6576 (2004), 3.8891 (2003), 4.08 (2002), 4.0939 (2001), 4.3461 (2000)
note: zlotych is the plural form of zloty

Fiscal Year
calendar year

GDP (Gross Domestic Product)
GDP (purchasing power parity): $463 billion (2004 est.)
GDP - real growth rate: 5.6% (2004 est.)
GDP - per capita: purchasing power parity - $12,000 (2004 est.)
GDP - composition by sector:
agriculture: 2.9%
industry: 31.3%
services: 65.9% (2004 est.)

Imports / Exports
Exports: $75.98 billion f.o.b. (2004 est.)
Exports - commodities:machinery and transport equipment 37.8%, intermediate manufactured goods 23.7%, miscellaneous manufactured goods 17.1%, food and live animals 7.6% (2003)
Exports - partners: Germany 30%, Italy 6.1%, France 6%, UK 5.4%, Czech Republic 4.3%, Netherlands 4.3% (2004)

Imports: $81.61 billion f.o.b. (2004 est.)
Imports - commodities: machinery and transport equipment 38%, intermediate manufactured goods 21%, chemicals 14.8%, minerals, fuels, lubricants, and related materials 9.1% (2003)
Imports - partners: Germany 24.4%, Italy 7.9%, Russia 7.3%, France 6.7%, China 4.6% (2004)

Industries
machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages, textiles

Investing
Forex, Foreign Exchange Market: Currency Trading

Labor Force & Unemployment Rate
Labor force: 17.02 million (2004 est.)
Labor force - by occupation: agriculture 16.1%, industry 29%, services 54.9% (2002)
Unemployment rate: 19.5% (2004 est.)