A broad agenda of reforms in four areas – labour markets, education, product markets and innovation – should strengthen Poland’s economy and allow it to continue its path of convergence towards the income levels of the more affluent OECD economies, said Angel Gurría during a seminar in Warsaw.

Poland’s economic performance has been impressive over the past 15 years, but further reforms are now needed to put the economy firmly back on track for stronger and sustainable growth, according to the OECD’s latest Economic Survey of Poland.

Poor labour market outcomes remain one of Poland’s major structural weaknesses, impeding firms’ competitiveness and the nation’s potential output. Boosting employment prospects is also critical, as the country will soon be ageing at a fast pace.

Poland’s productivity has grown strongly over the past decade, and efforts to reduce the regulatory burden have been significant. Despite impressive progress, product market regulation remains more burdensome than in most OECD countries, partly due to the importance of red tape and the level of state involvement in the economy.

Polish economic growth remains solid and unemployment is decreasing, but further investments in infrastructure and skills will be essential to sustain a continuing improvement in living standards, environmental quality and well-being, according to the latest OECD Economic Survey of Poland.

Improving local infrastructure investments in Poland

To continue catching up with living standards in other OECD countries Poland needs to invest in higher skills.

Over the last decade, Poland has significantly upgraded its infrastructure network, and public investment has risen rapidly. However, bottlenecks still weigh on productivity growth and environmental and health outcomes, and the perceived quality of transport and energy infrastructure remains lower than in most OECD countries.

Poland’s economic growth remains strong. Rising family benefits and a booming jobs market are lifting household income while poverty rates and inequality are falling, says a new OECD report.

The Polish economy is in a strong position. Economic growth reached 4.6% on average in 2017 and the OECD expects it to continue at around 4% over 2018/19.

In 2016 the Polish government introduced a large new child benefit, called “Family 500+”, with the aim to increase fertility from a low level and reduce child poverty. The benefit is universal for the second and every further child and means-tested for the first child. It more than doubles fiscal support for families, making Poland one of the top spenders in the EU concerning cash transfers for families.

Poland’s catch up with other OECD country has been largely based on productivity growth resulting from restructuring towards more productive sectors and foreign technology absorption.

Poland’s productivity has grown strongly over the past two decades. However, the public and private capital stock is weak, and investment remains focused on the adoption of existing technologies, which weighs on future productivity gains and innovation.

In 2016 the Polish government introduced a large new child benefit, called "Family 500+", with the aim to increase fertility from a low level and reduce child poverty.

Household Saving Rate in Poland decreased to 4.18 percent in the third quarter of 2019 from 4.33 percent in the second quarter of 2019. Personal Savings in Poland averaged 5.25 percent from 1999 until 2019, reaching an all time high of 21.82 percent in the fourth quarter of 1999 and a record low of -11.11 percent in the first quarter of 2012. This page provides - Poland Personal Savings - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Imports from Poland in Germany decreased to 4832129 EUR Million in February from 4853942 EUR Million in January of 2020. Imports from Poland in Germany averaged 723175.41 EUR Million from 1990 until 2020, reaching an all time high of 5244101 EUR Million in October of 2019 and a record low of 240 EUR Million in January of 1993. This page includes a chart with historical data for Germany Imports from Poland.

The Gross Domestic Product (GDP) in Poland expanded 3.20 percent in the fourth quarter of 2019 over the same quarter of the previous year. GDP Annual Growth Rate in Poland averaged 4.19 percent from 1995 until 2019, reaching an all time high of 8.10 percent in the fourth quarter of 1996 and a record low of 0.10 percent in the first quarter of 2013. Poland’s 38-million consumer market is one of the biggest in Europe. Poland's main industries are:food and beverage processing, shipbuilding and the manufacture of machinery, iron and steel products, chemicals, glass and textiles. On the expenditure side, household consumption is the main component of GDP and accounts for 60 percent of its total use, followed by gross fixed capital formation (20 percent) and government expenditure (18 percent). Exports of goods and services account for 47 percent of GDP while imports account for 46 percent, adding 1 percent of total GDP. This page provides - Poland GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Poland was worth 605 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. The GDP value of Poland represents 0.50 percent of the world economy. GDP in Poland averaged 284.28 USD Billion from 1985 until 2019, reaching an all time high of 605 USD Billion in 2019 and a record low of 63.90 USD Billion in 1987. The gross domestic product (GDP) measures of national income and output for a given country's economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. This page provides the latest reported value for - Poland GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The number of employed persons in Poland decreased to 16467 Thousand in the fourth quarter of 2019 from 16619 Thousand in the third quarter of 2019. Employed Persons in Poland averaged 15970.43 Thousand from 2010 until 2019, reaching an all time high of 16619 Thousand in the third quarter of 2019 and a record low of 15177 Thousand in the first quarter of 2010. In Poland, employed persons are individuals with a minimum required age who work during a certain time for a business. This page provides - Poland Employed Persons - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Hospital Beds in Poland decreased to 6.62 per 1000 people in 2017 from 6.64 per 1000 people in 2016. Hospital Beds in Poland averaged 6.60 per 1000 people from 2003 until 2017, reaching an all time high of 6.68 per 1000 people in 2003 and a record low of 6.42 per 1000 people in 2007. This page includes a chart with historical data for Poland Hospital Beds.

Hospitals in Poland decreased to 27.86 per one million people in 2017 from 28.02 per one million people in 2016. Hospitals in Poland averaged 22.10 per one million people from 1980 until 2017, reaching an all time high of 28.83 per one million people in 2014 and a record low of 18.85 per one million people in 1986. This page includes a chart with historical data for Poland Hospitals.

Medical Doctors in Poland decreased to 2.58 per 1000 people in 2017 from 2.63 per 1000 people in 2016. Medical Doctors in Poland averaged 2.44 per 1000 people from 2005 until 2017, reaching an all time high of 2.63 per 1000 people in 2016 and a record low of 2.32 per 1000 people in 2009. This page includes a chart with historical data for Poland Medical Doctors.

Nurses in Poland decreased to 5.14 per 1000 people in 2017 from 5.19 per 1000 people in 2016. Nurses in Poland averaged 5.20 per 1000 people from 2004 until 2017, reaching an all time high of 5.31 per 1000 people in 2011 and a record low of 4.97 per 1000 people in 2004. This page includes a chart with historical data for Poland Nurses.

ICU Beds in Poland averaged 533 per 100K people from 1970 until 2014, reaching an all time high of 632.68 per 100K people in December of 1990 and a record low of 438.62 per 100K people in December of 2009. This page includes a chart with historical data for Poland ICU Beds.

Housing Index in Poland increased to 127.06 points in the fourth quarter of 2019 from 123.59 points in the third quarter of 2019. Housing Index in Poland averaged 105.23 points from 2010 until 2019, reaching an all time high of 127.06 points in the fourth quarter of 2019 and a record low of 97.15 points in the first quarter of 2014. In Poland, the House Price Index measures residential property market prices. The HPI captures price changes of all kinds of residential property purchased by households (flats, detached houses, terraced houses, etc.), both new and existing. Only market prices are considered, self-build dwellings are therefore excluded. The land component of the residential property is included. This page provides the latest reported value for - Poland Housing Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Imports in Poland increased to 18938 EUR Million in February from 18882 EUR Million in January of 2020. Imports in Poland averaged 10658.62 EUR Million from 2000 until 2020, reaching an all time high of 21450 EUR Million in October of 2019 and a record low of 3418 EUR Million in January of 2000. Most of Poland's imports are capital goods needed for industrial retooling and for manufacturing inputs: machinery and transport equipment, intermediate manufactured goods, chemicals, minerals, fuels and lubricants. In 2017, Poland’s main import partners were: Germany (23 percent of total imports); China (12 percent); Russia (7 percent); Italy (5 percent); France, the Netherlands and Czech Republic (4 percent each); the US and Belgium (3 percent each); and the UK (2 percent). This page provides the latest reported value for - Poland Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Core consumer prices in Poland increased 3.60 percent in March of 2020 over the same month in the previous year. Core Inflation Rate in Poland averaged 2.86 percent from 1998 until 2020, reaching an all time high of 15.90 percent in February of 1998 and a record low of -0.41 percent in September of 2016. In Poland, the core inflation rate tracks changes in prices that consumers pay for a basket of goods which excludes some volatile price items. This page provides - Poland Core Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Employment Rate in Poland decreased to 68.50 percent in the fourth quarter of 2019 from 68.90 percent in the third quarter of 2019. Employment Rate in Poland averaged 58.70 percent from 1997 until 2019, reaching an all time high of 68.90 percent in the third quarter of 2019 and a record low of 50.40 percent in the first quarter of 2003. In Poland, the employment rate measures the number of people who have a job as a percentage of the working age population. This page provides - Poland Employment Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Unemployment Rate in Poland decreased to 5.40 percent in March from 5.50 percent in February of 2020. Unemployment Rate in Poland averaged 12.55 percent from 1990 until 2020, reaching an all time high of 20.70 percent in February of 2003 and a record low of 0.30 percent in January of 1990. In Poland, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides the latest reported value for - Poland Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Capacity Utilization in Poland decreased to 69.40 percent in the second quarter of 2020 from 79.90 percent in the first quarter of 2020. Capacity Utilization in Poland averaged 76.26 percent from 2002 until 2020, reaching an all time high of 83.50 percent in the third quarter of 2018 and a record low of 67.40 percent in the second quarter of 2002. This page provides - Poland Capacity Utilization - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Government Debt in Poland increased to 997397.32 PLN Million in February from 987604.73 PLN Million in January of 2020. Government Debt in Poland averaged 611398.21 PLN Million from 1998 until 2020, reaching an all time high of 997397.32 PLN Million in February of 2020 and a record low of 237399.87 PLN Million in December of 1998. This page provides - Poland Government Debt- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Poland recorded a government budget deficit of 9354.50 PLN Million in March of 2020. Government Budget Value in Poland averaged -13630.63 PLN Million from 1994 until 2020, reaching an all time high of 13482.90 PLN Million in May of 2016 and a record low of -44591.09 PLN Million in December of 2010. The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues. This page provides - Poland Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Banks Balance Sheet in Poland increased to 2216021.10 PLN Million in March from 2149467 PLN Million in February of 2020. Banks Balance Sheet in Poland averaged 1044355.30 PLN Million from 1996 until 2020, reaching an all time high of 2216021.10 PLN Million in March of 2020 and a record low of 208191.90 PLN Million in December of 1996. This page provides the latest reported value for - Poland Banks Balance Sheet - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Standard & Poor's credit rating for Poland stands at A- with stable outlook. Moody's credit rating for Poland was last set at A2 with stable outlook. Fitch's credit rating for Poland was last reported at A- with stable outlook. DBRS's credit rating for Poland is A with stable outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Poland thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Poland as reported by major credit rating agencies.

Poland recorded 15510 Coronavirus Cases since the epidemic began, according to the World Health Organization (WHO). In addition, Poland reported 756 Coronavirus Deaths. This page includes a chart with historical data for Poland Coronavirus Cases.

Poland recorded 777 Coronavirus Deaths since the epidemic began, according to the World Health Organization (WHO). In addition, Poland reported 15510 Coronavirus Cases. This page includes a chart with historical data for Poland Coronavirus Deaths.

Poland recorded 5437 Coronavirus Recovered since the epidemic began, according to the World Health Organization (WHO). In addition, Poland reported 777 Coronavirus Deaths. This page includes a chart with historical data for Poland Coronavirus Recovered.

Money Supply M2 in Poland increased to 1617386.27 PLN Million in March from 1569329.13 PLN Million in February of 2020. Money Supply M2 in Poland averaged 681843.45 PLN Million from 1996 until 2020, reaching an all time high of 1617386.27 PLN Million in March of 2020 and a record low of 138755.50 PLN Million in January of 1997. Poland Money Supply M2 includes M1 plus short-term time deposits in banks. This page provides - Poland Money Supply M2 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Loans To Private Sector in Poland decreased to 308537.81 PLN Million in June from 308641.89 PLN Million in May of 2016. Loans To Private Sector in Poland averaged 172536.74 PLN Million from 1996 until 2016, reaching an all time high of 310009.61 PLN Million in April of 2016 and a record low of 53996.69 PLN Million in December of 1996. Loans To Private Sector in Poland is reported by the National Bank of Poland. . This page provides - Poland Loans To Private Sector- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Corporate Profits in Poland increased to 169652.90 PLN Million in the fourth quarter of 2019 from 133466.20 PLN Million in the third quarter of 2019. Corporate Profits in Poland averaged 65927.95 PLN Million from 1998 until 2019, reaching an all time high of 169652.90 PLN Million in the fourth quarter of 2019 and a record low of 8747 PLN Million in the first quarter of 1999. This page provides - Poland Corporate Profits- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in Poland decreased to 19 BBL/D/1K in December from 21 BBL/D/1K in November of 2019. Crude Oil Production in Poland averaged 13.73 BBL/D/1K from 1994 until 2019, reaching an all time high of 24 BBL/D/1K in August of 2019 and a record low of 4.60 BBL/D/1K in January of 1995. This page provides - Poland Crude Oil Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Wages High Skilled in Poland increased to 4400 PLN/Month in 2018 from 4120 PLN/Month in 2017. Wages High Skilled in Poland averaged 4127.50 PLN/Month from 2015 until 2018, reaching an all time high of 4400 PLN/Month in 2018 and a record low of 3920 PLN/Month in 2015. High Skilled Wages refer to highest estimate of wage of workers doing high-skilled jobs, calculated from sample of wages collected by WageIndicator surveys.

Industrial Production in Poland decreased 2.30 percent in March of 2020 over the same month in the previous year. Industrial Production in Poland averaged 6.16 percent from 1992 until 2020, reaching an all time high of 23.50 percent in March of 2004 and a record low of -15.30 percent in January of 2009. In Poland, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 86 percent of total production. The biggest segments within Manufacturing are: food products (16 percent of total production); motor vehicles, trailers and semi-trailers (10 percent); metal products (7 percent), rubber and plastic products (6 percent), electrical equipment (5 percent), coke and refined petroleum products (5 percent), chemicals and chemical products (4 percent), other non-metallic mineral products (4 percent), and basic metals (4 percent). Electricity, gas, steam and air conditioning supply accounts for 8 percent of total output; Mining and quarrying for 3 percent; and Water supply; sewerage, waste management and remediation activities for 2 percent. This page provides the latest reported value for - Poland Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Electricity Production in Poland increased to 14441 Gigawatt-hour in December from 13543 Gigawatt-hour in November of 2019. Electricity Production in Poland averaged 13514.19 Gigawatt-hour from 2008 until 2019, reaching an all time high of 16381 Gigawatt-hour in January of 2017 and a record low of 11068 Gigawatt-hour in June of 2009. This page has Electricity Production values for Poland.

Employment in Poland increased by 0.30 in March of 2020. Employment Change in Poland averaged 2.11 percent from 2006 until 2020, reaching an all time high of 5.80 percent in January of 2008 and a record low of -2.40 percent in September of 2009. In Poland, employment growth refers to the annual change of employment in the enterprise sector, which concerns units employing more than 9 persons and conducting economic activity within the scope of the following areas: forestry and logging; marine fishing; mining and quarrying; manufacturing; electricity, gas, steam and air conditioning supply; water supply; sewerage, waste management and remediation activities; construction; wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities; information and communication; real estate activities; legal and accounting activities; activities of head offices; management consultancy activities; architectural and engineering activities; technical testing and analysis; advertising and market research; other professional, scientific and technical activities; administrative and support service activities; arts, entertainment and recreation; repair of computers and personal and household goods; other personal service activities. This page provides - Poland Employment Growth YoY- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Industrial Production in Poland decreased 7.30 percent in March of 2020 over the previous month. Industrial Production Mom in Poland averaged 0.44 percent from 1995 until 2020, reaching an all time high of 8.40 percent in December of 2000 and a record low of -7.30 percent in March of 2020. In Poland, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 86 percent of total production. The biggest segments within Manufacturing are: food products (16 percent of total production); motor vehicles, trailers and semi-trailers (10 percent); metal products (7 percent), rubber and plastic products (6 percent), electrical equipment (5 percent), coke and refined petroleum products (5 percent), chemicals and chemical products (4 percent), other non-metallic mineral products (4 percent), and basic metals (4 percent). Electricity, gas, steam and air conditioning supply accounts for 8 percent of total output; Mining and quarrying for 3 percent; and Water supply; sewerage, waste management and remediation activities for 2 percent. This page provides - Poland Industrial Production MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Car Production in Poland decreased to 20.10 Thousand Units in March from 41.90 Thousand Units in February of 2020. Car Production in Poland averaged 46.70 Thousand Units from 2001 until 2020, reaching an all time high of 85.50 Thousand Units in April of 2008 and a record low of 4 Thousand Units in August of 2002. This page provides - Poland Car Production- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Business Confidence in Poland decreased to -44.20 points in April from -1.10 points in March of 2020. Business Confidence in Poland averaged 3.68 points from 1993 until 2020, reaching an all time high of 24.90 points in May of 2007 and a record low of -44.20 points in April of 2020. In Poland, business tendency survey in manufacturing is based on a survey of 3500 companies producing consumer, investment and supply goods. The business tendency questionnaires contain questions related to the basic features of the economic situation in industry: general economic situation of the company, order-books, production, stocks, financial situation, employment, prices, production capacity, capacity utilization, duration of assured production, limits to activity, competitive position. On the basis of gathered replies indicators are calculated. These indicators are weighted by the value of sold production of manufacturing in current prices and their range varies from -100 to +100. Positive value means good business situation, negative – bad one. Increase (decrease) of indicator means improving (worsening) of the business situation from the enterprises point of view. This page provides the latest reported value for - Poland Business Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Poland 10Y Bond Yield was 1.54 percent on Friday May 8, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the Poland Government Bond 10Y reached an all time high of 13.98 in October of 2000. Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.

Poland recorded a Government Budget deficit equal to 0.70 percent of the country's Gross Domestic Product in 2019. Government Budget in Poland averaged -3.80 percent of GDP from 1995 until 2019, reaching an all time high of -0.20 percent of GDP in 2018 and a record low of -7.40 percent of GDP in 2010. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Poland Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.