Since the beginning of the 2000s, the Polish economy has grown at a steady pace, because of a series of economic reforms that took place in the country in the 1990s. These reforms were intended to transform the planned economy the country into a market economy, with the help of truly market-based mechanisms. Remaining strong in the global financial crisis of 2008, Poland has since continued to experience strong economic growth.

Consumption in Poland

In 2016, consumption was the driving force behind Poland’s economic growth, replacing investment. The country’s expansionary government policies, especially about support for families and retirees, as well as the drop in the consumption tax have strongly influenced this change. The increase in government spending was partly financed by new sectoral taxes. According to OECD forecasts, the interest rate is expected to rise in 2018. Moreover, the budget deficit could increase further with the increase in social program costs. Rising consumer tax could bring public finances closer to a balance.

Foreign trade 

In 2016, Poland’s foreign trade (i.e. exports and imports of products and services) was estimated at 595.8 billion $, which represents a decrease of 11.4% over 2015.

• This decline was due to lower exports (-60.9 billion US dollars or -15.5%) and, to a lesser extent, imports (-15.8 billion US dollars or -5.6%) merchandise and commercial services.
• In 2016, according to the WTO, Poland ranked 22nd in the world for merchandise exports (1.3% of the world total) and 21st for imports (1.2%). In terms of commercial services, Poland was 26th among exporters (1.0% of the world total) and 31st among importers (0.7%).

In 2017, the economic situation of Poland has not changed significantly, which means that the data is similar.