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Poland economy

At the beginning of the 1990s, Poland became the first country in post-communist Europe to embrace rapid economic liberalization—a goal implemented by both center–right and center–left governments.

Years of economic transformation have led to deep structural change and have made Poland’s economy one of the most successful and open in Central Europe.

(USD billions) 2000 2001 2002 2003 2004 (e) 2005 (f)
Economic growth (%) 4.0 1.0 1.4 3.7 5.0 4.5
Inflation (%) 10.2 5.5 2.0 0.8 2.2 2.7
Public sector balance (%GDP) -2.6 -5.1 -6.4 -6.5 -7.8 -7.4
Unemployment rate (%) 15.1 17.4 20.0 20.0 n/a n/a
Exports 35.9 41.7 46.7 59.7 73.4 85.3
Imports 48.2 49.3 54.0 65.5 78.6 89.9
Trade balance -12.3 -7.7 -7.2 -5.8 -5.2 -4.6
Current account balance -10.0 -5.3 -5.0 -4.2 -4.6 -5.6
Current account balance (%GDP) -6.1 -2.9 -2.6 -2.0 -2.0 -2.3
Foreign debt 69.5 71.9 84.7 103.8 108.0 112.4
Debt service (%Exports) 12.5 16.5 10.5 8.8 14.7 12.1
Currency reserves (import months) 5.2 4.9 5.1 4.8 4.3 3.9

(e) estimate (f) forecast

Source: Cofacerating, 2005

 

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