Poland is a country in Central Europe bordered by Belarus, Czech Republic, Germany, Lithuania, Russia, Slovakia, and Ukraine. The geography of Poland is flat with mountains along the southern border. The government system is a republic; the chief of state is the president, and the head of government is the prime minister. Poland has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. Poland is a member of the European UnionEU. Previously called the European Community. An internation... (EU).
Poland is ranked 20th worldwide in terms of GDP and classified as high-income economyThe management of money, currency and trade of a nation. The... by World Bank. The largest component of its economyThe management of money, currency and trade of a nation. The... is the service sector (62.3.%), followed by industry (34.2%) and agriculture (3.5%). With the economic reform of 1989 the Polish external debtAlso known as Foreign Debt. Money that is owed by the govern... increased from $42.2 billion in 1989 to $365.2 billion in 2014. Poland shipped US$198.2 billion worth of goods around the globe in 2015, up by 5.4% since 2011 and down 7.6% from 2014 to 2015. The top Poland exports include machinery, electronic equipment, vehicles, furniture, and plastics. According to the Central Statistical Office of Poland, in 2010 the Polish economic growthAn increase in a region's or nation's production of goods an... rate was 3.9%, which was one of the best results in Europe. In Q1 2014 its economyThe management of money, currency and trade of a nation. The... grew by 3.4% and is expected to grow by 3.4% in 2014, 3.7% in 2015 and 3.9% in 2016.
The government of Prime Minister Donald TUSK steered the Polish economyThe management of money, currency and trade of a nation. The... through the economic downturn by skillfully managing public finances and adopting controversial pensionA private or government fund from which regular payments are... and taxA fee imposed by a government on personal or corporate incom... reforms to further shore up public finances. While the Polish economyThe management of money, currency and trade of a nation. The... has performed well over the past five years, growth slowed in 2013 and picked back up in 2014-15. Poland’s new center-right Law and Justice government plans to introduce expansionary economic policies to spur long-term growth, but social spending programs are expected to lead to increased deficit spending over the medium term.
Important Details
- Country ISO3 : POL
- Country Code : 616
- Income Group : High income
- Lending Category : IBRD
- Region : Europe & Central Asia
- Currency Unit: Polish zloty
- WTO Member : Yes
- TradeThe buying and selling or exchange of goods and services. Th... organisations : EU, WTO and OECD
- world rank : 39
- Regional Ranking : 18th in Europe