In this economic guide to Poland we’ll give you an overview of the Polish economy, including the country’s primary imports and exports of goods and services, as well as their primary destinations.
Contents
Economy of Poland – Overview
Currently ranked the 23rd largest export economy in the world, Poland exports $259 billion of goods and imports $278 billion, resulting in a negative trade balance of $18.6 billion.
The country’s exports have grown over the last five years from $196 billion in 2013 to $259 billion in 2018 (an increase of $63.4 billion)
GDP of Poland
The GDP of Poland is $586 billion and that means that its GDP per capita stands at $15,421.
Poland’s Top 5 Commodity Exports
- Rolled Tobacco – $3.4 billion
- Poultry Meat – $2.7 billion
- Iron Structures – $2.6 billion
- Refined Petroleum – $2.5 billion
- Coke – $2 billion
Poland’s Other Notable Exports
- Vehicle Parts – $14.7 billion
- Cars – $7.2 billion
- Seats – $6.2 billion
- Other Furniture – $5.3 billion
- Video Displays – $4.8 billion
Top export destinations of Poland are Germany ($70.7 billion), Czechia ($16.1 billion), United Kingdom ($15.9 billion), France ($14.3 billion), and Italy ($11.8 billion).
Poland’s Top 5 Commodity Imports
- Crude Petroleum – $323 million
- Refined Petroleum – $199 million
- Pig Meat -$113 million
- Non-fillet Fresh Fish – $111 million
- Other Iron Products – $106 million
Poland’s Other Notable Imports
- Vehicle Parts – $478 million
- Packaged Medicaments – $401 million
- Cars – $364 million
- Telephones – $352 million
- Computers – $336 million
Details About Poland’s Imports/Exports
Here’s some more in-depth analysis of Poland’s exports and imports.
Refined Petroleum
The annual value of the global refined petroleum export market is $753 billion and Poland’s exports account for 0.33% of this total ($2.48 billion).
Refined petroleum exports represent 0.96% of Poland’s total annual export values.
The Netherlands and Belgium-Luxembourg are the destinations for 51% of Poland’s refined petroleum exports.
Refined Copper
Poland enjoys a 2% market share of a global refined copper export market that is worth $67 billion per annum.
The country is home to KGHM Polska Miedz SA, one of the world’s largest refined copper suppliers. It formed in 1961 to develop a copper deposit located north of some existing small mines in Lower Silesia, which is in southwest Poland.
Coke
Coke is a fuel made by heating coal in an airless environment. The total value of global exports is $10.6 billion. Poland (27%) is the 3rd largest exporter behind China (29.3%) and India (23.3%).
Weglokoks is the largest coal exporting company in the country and is responsible for around half of all the country’s coke and coal exports.
Pig Meat
The global pig meat export market is worth $28.4 billion annually and Poland has a 3.63% market share, making it the 9th largest exporter.
Pig meat accounts for 0.4% of all Poland’s exports and the United States (17.3%) and Italy (10.5%) are the top importers of Polish meat, and remaining export destinations are almost exclusively EU countries.
Interesting Facts About Poland
- Poland has one of the oldest salt mines in the world, the Wieliczka Salt Mine, which was built in the 13th century and was still producing table salt right up to 2007.
- The Polish alphabet consists of 32 letters.
- Almost 35% of Polish nationals now live abroad.
- Poland has been invaded or has fought for its freedom 43 times.
All figures based on OEC/IMF 2018 calculations and projections unless otherwise stated.
Regulated Brokers: Where Can I Trade Commodities?
Start your research with reviews of these regulated brokers available in .
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74%-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Further Reading
- Commodity.com Guide to Commodity Brokers
- Commodity.com Guide to CFD Brokers
- Guide to Trading Soft Agricultural Commodities
- Guide to Trading Coal
