Doing Business in Poland
Poland
Poland is the 5th European Union country in terms of population, the 6th EU country in terms of area, the 6th economy in the European Union, and the 1st economy in Central and Eastern Europe. In the last years, the Polish economy has developed extremely dynamically, in the years 2015-2022 the cumulative GDP growth amounted to 32%.
The high dynamics of Poland’s economic development is primarily due to rapidly developing Polish companies that successfully export, as well as high domestic demand and the inflow of foreign investments. Polish enterprises successfully compete on global markets by offering high-quality products. Polish export hits include furniture, cosmetic products, doors and windows, and agricultural and food industry products. Poland is, among other things, the largest producer of apples in Europe and the 4th largest in the world, the 6th largest producer of furniture in the world and the 2nd largest exporter of furniture in the world, one of the largest producers of windows and doors and the largest exporter of plastic doors, windows and window frames in the world.
The Polish economy is characterized by advanced technologies and IT specialists, an example of which is the gaming industry. Thanks to the development of infrastructure and transport capabilities, Poland has also become a transport hub, the port of Gdańsk is the largest container port on the Baltic Sea.
In recent years, Poland has been chosen as a place to locate investments by corporations such as LG Energy Solutions (production of batteries for electric cars) and Intel (semiconductor integration and testing plant). Interest in Poland is also visible from Romanian enterprises. Currently, Romanian companies such as Teilor (jewelry), Superbet (gambling) and eMag (ecommerce platform) are active on the Polish market.
Key Figures
Capital: Warsaw
Population: 38 million
Currency: Polish zloty (PLN)
Main cities: Warsaw (capital), Krakow, Poznań, Wrocław, Gdańsk, Łódź, Katowice, Szczecin, Lublin, Bydgoszcz
Economic Information
Unemployment rate (2023): 5,2%
Inflation rate (2023): 11,4%
GDP growth (2023): 0,2%
GDP (2022): EUR 654 bn.
GDP per capita (2022): EUR 17 352
VAT rates: 23% (standard rate), 8%, 5%
CIT rates: 19% (standard rate), 9%
Minimum wage (2024): PLN 4242 gross (approx. EUR 980)
Foreign Trade
The total value of import (2022): EUR 366 bn | Import from Romania: EUR 3,5 bn
Mainly imported products from Romania:
- Machinery and mechanical appliances; electrical equipment; sound and image recorders and reproducers.
- Vehicles and associated transport equipment.
- Base metals and articles of base metals.
- Plastics, rubber and articles thereof.
- Food, beverages and tobacco.
- Chemical products.
The total value of export (2022): EUR 346 bn | Export to Romania: EUR 7,4 bn
Mainly exported products to Romania:
- Machinery and mechanical appliances; electrical equipment; sound and image recorders and reproducers.
- Chemical products.
- Base metals and articles of base metals.
- Plastics, rubber and articles thereof.
- Food, beverages and tobacco.
- Textile materials and articles made thereof.