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Poland's history as a state began near the middle of the 10th century. By the mid-16th century, the Polish-Lithuanian Commonwealth ruled a vast tract of land in Central and Eastern Europe. During the 18th century, internal disorders weakened the nation, and in a series of agreements between 1772 and 1795, Russia, Prussia, and Austria partitioned Poland among themselves. Poland regained its independence in 1918 only to be overrun by Germany and the Soviet Union in World War II. It became a Soviet satellite state following the war, but its government was comparatively tolerant and progressive. Labor turmoil in 1980 led to the formation of the independent trade union "Solidarity" that over time became a political force with over 10 million members. Free elections in 1989 and 1990 won Solidarity control of the parliament and the presidency, bringing the communist era to a close. A "shock therapy" program during the early 1990s enabled the country to transform its economy into one of the most robust in Central Europe. Poland joined NATO in 1999 and the EU in 2004. With its transformation to a democratic, market-oriented country largely completed and with large investments in defense, energy, and other infrastructure, Poland is an increasingly active member of Euro-Atlantic organizations.

Location

Central Europe, east of Germany

Natural Resources

coal, sulfur, copper, natural gas, silver, lead, salt, amber, arable land

Population - distribution

population concentrated in the southern area around Krakow and the central area around Warsaw and Lodz, with an extension to the northern coastal city of Gdansk

38500000
Polish (official) 98.2%, Silesian 1.4%, other 1.1%, unspecified 1.3%
WARSAW (capital) 1.722 million; Krakow 760,000 (2015)
Conventional long form
Republic of Poland
Conventional short form
Poland
Local long form
Rzeczpospolita Polska
Local short form
Polska
parliamentary republic
Name
Warsaw
Geographic coordinates
52 15 N, 21 00 E
Time difference
UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
Daylight saving time
+1hr, begins last Sunday in March; ends last Sunday in October
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Poland has the sixth-largest economy in the EU and has long had a reputation as a business-friendly country with largely sound macroeconomic policies. Since 1990, Poland has pursued a policy of economic liberalization. During the 2008-09 economic slowdown Poland was the only EU country to avoid a recession, in part because of the government’s loose fiscal policy combined with a commitment to rein in spending in the medium-term. However, since 2015 Warsaw’s prioritization of spending on social welfare programs has prompted investors to decrease Poland’s economic growth projections for the next few years.
Inflation
-0.61%
Total tax rate (% of commercial profits)
40.4%
Real Interest Rate
3.318%
Manufacturing, value added (% of GDP)
20.436%
Current Account Balance
US$ -1,395,000,000
Labor Force, Total
18,348,915
Employment in Agriculture
11.50%
Employment in Industry
30.44%
Employment in Services
57.75%
Unemployment Rate
6.18%
Imports of goods and services
US$ 227,220,956,431
Exports of goods and services
US$ 245,468,471,934
Total Merchandise Trade
85.16%
FDI, net inflows
US$ 14,185,000,000
Commercial Service Exports
US$ 48,976,000,000
potatoes, fruits, vegetables, wheat; poultry, eggs, pork, dairy
machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages, textiles
Commodities
machinery and transport equipment 37.8%, intermediate manufactured goods 23.7%, miscellaneous manufactured goods 17.1%, food and live animals 7.6% (2012 est.)
Partners
Germany 27.1%, UK 6.8%, Czech Republic 6.6%, France 5.5%, Italy 4.8%, Netherlands 4.4% (2015)
Commodities
machinery and transport equipment 38%, intermediate manufactured goods 21%, chemicals 15%, minerals, fuels, lubricants, and related materials 9% (2011 est.)
Partners
Germany 27.6%, China 7.5%, Russia 7.2%, Netherlands 5.9%, Italy 5.2%, France 4.1% (2015)
Country Risk Rating
A3
Changes in generally good but somewhat volatile political and economic environment can affect corporate payment behavior. A basically secure business environment can nonetheless give rise to occasional difficulties for companies. Corporate default probability is quite acceptable on average.
Business Climate Rating
A2
The business environment is good. When available, corporate financial information is reliable. Debt collection is reasonably efficient. Institutions generally perform efficiently. Intercompany transactions usually run smoothly in the relatively stable environment rated A2.
  • Market of 38 million inhabitants
  • Proximity to West European markets
  • Price competitiveness and qualified and inexpensive labor
  • Integrated into the German production chain
  • Primary beneficiary of European structural funds
  • Diversified economy (agriculture, various industries and services)
  • Resilient financial sector
  • Coal resources
  • Insufficient investment/insufficient domestic savings
  • Low levels of research and development
  • Development in the eastern regions lagging behind
  • Rigid labor market favoring the shadow economy estimated at 23%
  • High level of structural unemployment and low employment rate for women
  • Lack of competition
  • Low birth rate

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