GDP and Public Finances

  • The GDP of Poland for the 2012: €381.2 bn.
  • GDP real growth rate: 1,6% - 2013 (Eurostat); 2.0% - 2012
  • Purchasing power standard GDP per capita: 66.2% EU27
  • GDP composition by sector (2012 est.):
    • agriculture: 4%
    • industry: 32.2%
    • services: 63.8%
  • Country's budget deficit for 2013: 4.3% of GDP
  • Public debt to GDP ratio: 57.0%
  • Inflation rate: 0.9%

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).

average for:2011

2012

2013

1USD

2.9634

3.2570

3.1608

1 EUR

4.1198

4.1850

4.1975

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 2013: PLN3879 (about €925)
  • the average gross pay in business sector in March 2014: PLN4018 (about €958)
  • labour force in 2012: 18 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 2012: 55,9%
  • individuals by age group (2008):
    • 15-24: 15.5%
    • 24-49: 36%
  • the unemployment rate in 2013 and in the beginning of 2014 varies around 13 %