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Economy and Banking Sector of Poland

National Currency

Polish Złoty (PLN)

Exchange Rate

1 EUR = 4.2641 PLN (2019-07-17)

During the last 11 years EURPLN exchange rate was within the range 3.8673 - 4.5080, reaching its maximum in Nov 2011 and falling to its minimum in Mar 2010.

Euro to Polish złoty (EURPLN).

Chart 1. Euro to Polish złoty (EURPLN). Source: ECB.

GDP

Nominal GDP (2018)
496.5 bln EUR  (+0.06%)
Nominal GDP per Capita (2018)
12,900 EUR  (+0.06%)
Real GDP Growth (2018)
5.1 %  (2017: 4.6 %)

According to Eurostat, nominal GDP of Poland in 2018 was 496.5 bln EUR.

Poland outperforms the European Union in terms of real GDP growth with the average annual differential coming to 1.5% over the past 10 years (2008 - 2018). In 2018 real GDP growth was 5.1% which was above the Euro Area average (1.9%) and above the European Union average (2.0%). Real GDP growth in 2019 - 2024 are IMF's estimates.

Real GDP Growth in Poland.

Chart 2. Real GDP Growth in Poland. Source: Eurostat, International Monetary Fund.

In 2018, nominal GDP per capita in Poland was 12,900 EUR.

Poland has a below-average level of wealth in terms of per-capita GDP at purchasing power parity (PPP); this economic welfare indicator has, on average, fell behind that of the European Union by -22.4% over the past 10 years (2007 - 2017). GDP per capita at PPP in 2018 - 2024 are IMF's estimates.

GDP Per Capita at Purchasing Power Parity in  Poland; European Union = 100.

Chart 3. GDP Per Capita at Purchasing Power Parity in Poland; European Union = 100.

Inflation Rate

CPI, MoM (Apr 2019)
1.0 %  (Mar 2019: 0.4 %)
CPI, YoY (Apr 2019)
2.1 %  (Mar 2019: 1.7 %)
CPI, Year Average (2018)
1.2 %  (2017: 1.6 %)

According to Eurostat, inflation rate in Poland in 2018 expressed as annual percentages of average consumer prices was 1.2% which was below the Euro Area average (1.8%) and below the European Union average (1.9%). Inflation rates in 2019 - 2024 are IMF's estimates.

Inflation Rate in Poland.

Chart 4. Inflation Rate in Poland. Source: Eurostat, International Monetary Fund.

Unemployment Rate

Unemployment Rate (2018)
3.9 %  (2017: 4.9 %)

According to Eurostat, unemployment rate in Poland in 2018 was 3.9% which was below the Euro Area average (8.2%) and below the European Union average (6.8%). Unemployment rates in 2019 - 2024 are IMF's estimates.

Unemployment Rate in Poland.

Chart 5. Unemployment Rate in Poland. Source: Eurostat, International Monetary Fund.

Government Bond Yield

Government Bond Yield (Mar 2019)
2.75 %  (Feb 2019: 2.69 %)

According to Eurostat, government bond yield in Poland in March 2019 was 2.75%, compared to 2.69% in February 2019.

Government bond yield of Poland.

Chart 6. Government bond yield of Poland. Source: Eurostat.

Credit Ratings (as of May 2018)

Fitch
A- (high credit quality), outlook stable
Moody's
A2 (upper medium grade), outlook stable

Poland has sovereign credit ratings assigned by Fitch and Moody's: the rating set by Fitch is A- (high credit quality), outlook stable; the rating set by Moody's is A2 (upper medium grade), outlook stable.