Analysis and Studies - Country Analysis
Poland: a look at the market
April 4th 2024
Poland is a country situated in Central Europe. It is divided into 16 administrative voivodeship provinces; Poland has a population of over 38 million and is the 5th most populous member state of the EU. Warsaw is the nation’s capital and also the largest metropolis.
As of 2023, Poland’s economy and gross domestic product (GDP) is the sixth largest in the European Union by nominal standards and the fifth largest by purchasing power parity. It is also one of the fastest growing within the Union and reached a developed market status in 2018.
The unemployment rate published by Eurostat in 2023 amounted to 2.8%, which was the second-lowest in the EU. As of 2023, around 62% of the employed population works in the service sector, 29% in manufacturing, and 8% in the agricultural sector. Although Poland is a member of the European single market, the country has not adopted the Euro as legal tender and maintains its own currency.
OVERVIEW
In 2021, Poland was the number 21 economy in the world in terms of GDP (current US$), the number 22 in total exports, the number 17 in total imports, the number 63 economy in terms of GDP per capita (current US$) and the number 28 most complex economy according to the Economic Complexity Index (ECI).
EXPORTS
The top exports of Poland are Motor vehicles; parts and accessories (8701 to 8705) ($14.6B), Electric Batteries ($8.74B), Seats ($6.98B), Other Furniture ($6.73B), and Video Displays ($6.32B), exporting mostly to Germany ($89.4B), Czechia ($19B), France ($18.5B), United Kingdom ($16.7B), and Italy ($15.1B).
In 2021, Poland was the world's biggest exporter of Rolled Tobacco ($4.19B), Wood Crates ($963M), Razor Blades ($898M), Frozen Fruits and Nuts ($702M), and Newspapers ($556M)
IMPORTS
The top imports of Poland are Cars ($11.3B), Crude Petroleum ($9.94B), Motor vehicles; parts and accessories (8701 to 8705) ($9.59B), Broadcasting Equipment ($7.37B), and Packaged Medicaments ($5.78B), importing mostly from Germany ($84.2B), China ($45.8B), Netherlands ($19.2B), Italy ($19.1B), and Czechia ($14.7B).
In 2021, Poland was the world's biggest importer of Inorganic Compounds ($512M), Artificial Graphite ($417M), Roofing Tiles ($98.6M), and Scrap Tin ($53.8M)
POLAND AT A GLANCE
Top Export (2021) à Motor vehicles; parts and accessories $14.6B
Top Destination (2021) à Germany$89.4B
FASTEST GROWING EXPORT MARKETS (2020 - 2021)
Germany $16.3B (+ 22.2%)
Czechia $4.02B (+ 26.7%)
France $3.86B (+ 26.3%)
FASTEST GROWING IMPORT MARKETS (2020 - 2021)
Germany $15.1B (+ 21.8%)
China $12.7B (+ 38.1%)
Netherlands $4.69B (+ 32.5%)
Fonti:
https://oec.world/en
https://data.worldbank.org/
https://www.trademap.org/