Economic Facts

GDP and Public Finances

• The GDP of Poland for the 2008: €360,638.9 m.
• GDP real growth rate: 1,7% - 2009 (Eurostat); 5.3% - 2008
• Purchasing power standard GDP per capita: €13,800
• GDP composition by sector (2008 est.):
  • agriculture: 4%
  • industry: 31.3%
  • services: 64.7%
• Country's budget deficit for 2008: 24.6 bn., 2.7% of GDP
• Public debt to GDP ratio: 41.6%
• Inflation rate: 4.3%

Currency

New Polish Zloty (PLN); local form - złoty (pronounced zwoty)

The zloty exchange rate is fully floating. Below please find the exchange rates published by the National Polish Bank (NBP).

Significant depreciation of zloty in the beginning of 2009 (the lowest exchange rate registered - €1 : PLN4.95) and fluctuations of its value were to some extent an adjustment of its earlier appreciation and overrating (€1 : PLN3.2 in 2008). A strong depreciation factor was also insecurity in the region related to the global crisis. Long term stability rate is estimated at €1 : PLN3.9 - 4.1.

Labour Market

• the average pay in 2008: PLN2944 (about €840)
• the average gross pay in business sector in February 2009: PLN3195 (about €910)
• labour force in 2008: 17 m.
• longer working hours compared to the West European countries (2 to 10 hours difference), high level of growth of labour productivity
• economic activity rate in 2007: 63,6%
• individuals by age group (2008):
  • 15-24: 15.5%
  • 24-49: 36%
• the unemployment rate in 2008 and in the beginning of 2009 varies around 7 %