The agricultural sector remained constrained by structural problems, surplus labour, inefficient small farms, and a lack of investment.
Restructuring and privatization of "sensitive sectors" (e.g. coal), has also been slow, but foreign investments in energy and steel have begun to turn the tide.
Also, reforms in healthcare, education, the pension system, and state administration have resulted in larger than expected fiscal pressures.
Improving this account deficit and tightening monetary policy, with a focus on inflation, are priorities for the Polish government.
The major reasons for its success appear to be a large internal market (in terms of population it is sixth in the EU) and a business-friendly political climate.
The economic reforms implemented after the fall of communism in the 1990s have also played a role; between 1989 and 2007 Poland's economy grew by 177%, faster than other countries in Eastern and Central Europe, while at the same time millions were left without work.
Achieving these results was possible thanks to the privatisation of state-owned enterprises, the development of private entrepreneurship, but also the rapid increase in work efficiency and openness to foreign direct investments.
[citation needed] The unemployment rate then fell to 10% by the late 1990s and then increased again in the first few years of the 21st century, reaching a peak of 20% in 2002.
[54] As a member of the European Union, it applies the common external tariff to goods from other countries including the United States.
The most successful exports are furniture, foods,[55] motor boats, light planes, hardwood products, casual clothing, shoes, and cosmetics.
[57] In the agricultural sector, the biggest money-makers abroad include smoked and fresh fish, fine chocolate, dairy products, meats, and specialty breads,[58] with the exchange rate conducive to export growth.
Poland ranks in the top 20 in the world both in terms of exports[61] and imports,[62] recording a clear trade surplus.
In 2010, the World Economic Forum ranked Poland near the bottom of OECD countries in terms of the clarity, efficiency, and neutrality of the legal framework used by firms to settle disputes.
[69] Before World War II, Poland's industrial base was concentrated in the coal, textile, chemical, machinery, iron, and steel sectors.
Today it extends to fertilizers, petrochemicals, machine tools, electrical machinery, electronics, car manufacturing, and shipbuilding.
Poland's industrial base suffered greatly during World War II, and many resources were directed toward reconstruction.
[70] In 1990, the Tadeusz Mazowiecki government began a comprehensive reform programme to replace the centralised command economy with a market-oriented system.
While the results overall have been impressive, many large state-owned industrial enterprises, particularly the rail, mining, steel, and defence sectors, have remained resistant to change and the downsizing required to survive in a market-based economy.
This value includes drugs and non-drugs such as dietary supplements, cosmetics, dressings, dental materials, diagnostic tests, and medical devices.
Currently, Poland's 2 million private farms occupy 90% of all farmland and account for roughly the same percentage of total agricultural production.
17.5 million of this number are arrivals considered for tourism purposes (with at least one night's stay), making it the 16th most visited country in the world.
[81] The most popular cities are Kraków, Warsaw, Gdańsk, Wrocław, Łódź, Poznań, Szczecin, Lublin, Toruń, Sopot, Zakopane, and the Wieliczka Salt Mine.
Poland's main tourist offers consist of sightseeing within cities and out-of-town historical monuments, business trips, qualified tourism, agrotourism, mountain hiking (trekking), and climbing among others.
While transforming the country to a market-oriented economy during 1992–97, the government privatized some banks, recapitalized the rest, and introduced legal reforms that made the sector competitive.
[82] Banks in Poland reacted to the financial crisis of 2009 by restraining lending, raising interest rates, and strengthening balance sheets.
The segment of the private equity market that finances early-stage high-risk companies, with the potential for fast growth, had 130 active firms in Poland (as of March 2019).
Warsaw Chopin serves as the main international hub for Poland's flag carrier LOT Polish Airlines.
In preparation for the Euro 2012 football championships jointly hosted by Poland and Ukraine, a number of airports around the country were renovated and redeveloped.
Recent GDP growth (comparing to the same quarter of previous year):[86] Poland has an excellent location for transporting locally made components or products to the rest of Europe.
Subsequent voivodeships reached about 50% of the EU average, and the poorest voivodships of the eastern wall have GDP per capita comparable to Romania and Bulgaria.
Very high (≥ 0.800)
High (0.700–0.799)
Medium (0.550–0.699)
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Low (≤ 0.549)
Data unavailable
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