Poland - Market OverviewPoland - Market Overview
Poland is an important and dynamic market located in the heart of Central Europe. American exporters and investors are drawn to Poland due to the country’s large population, well - educated and competitive workforce, strong prospects for economic growth and location affording broader access to the European Union market of 500 million.
With 38 million people, Poland is the largest single market among the “new” European Union (EU) states. Poland joined the EU in 2004, and its adoption of EU legislation has led to economic reforms that have improved the environment for business and boosted economic growth.
With an estimated 2017 GDP of USD 510 billion Poland is the EU’s sixth largest economy. Poland’s economy has performed consistently in the period from 2014 – 17, with real GDP growth exceeding 4 percent due to increases in government social spending that have helped spur consumer spending.
Poland’s exports and imports were both valued at USD 221 billion in 2017. Poland’s chief export partners are: Germany 27%, United Kingdom 7%, Czech Republic 7%; France 5%; Italy 5%, and Netherlands 5%. Its chief import partners are: Germany 28%, China 8%, Russia 6%, Netherlands 6%, Italy 5%, France 4% and the Czech Republic (2016). U.S. exports to Poland reached a record level of over USD 4.5 billion in 2017, which is a 23 percent increase over 2016. However, with U.S. market share of only three percent of Poland’s imports, there remains abundant potential for U.S. firms. Poland is open to foreign investment, and American companies represent one of the largest groups of foreign investors in the country. Official statistics put the stock of U.S. FDI in Poland at USD 11 billion, but the volume is closer to USD 40 billion when considering the amounts routed through U.S. subsidiaries in other countries. U.S. companies operate in a wide range of industry sectors. Leading sectors have historically included automotive, aerospace, information technology hardware and software, food products, transportation and pharmaceuticals, paper production, appliances and financial services. Investment and export opportunities exist in the energy sector as Poland seeks to diversify its energy mix, as well as in defense and digital technologies. Poland is also a popular location for business processing centers, including call centers, shared services centers and research and development operations.