Economy of Poland
Poland is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Poland may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Poland exports around $202.3 billion and imports roughly $207.4 billion. 4.5% of population in the country are unemployed. The total number of unemployed people in Poland is 1,714,717. In Poland, 17.3% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Poland is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 4.9% of GDP. The Gini Index of the country is 34.1. Poland is experiencing good equality. The majority of citizens in Poland fall within a narrow range of income, although some cases may show significant differences. Poland has a Human Development Index (HDI) of 0.834. Poland has a high HDI score. This indicates that the majority of citizens will be able to attain a desirable life while providing substantial aid and assistance to citizens with lower living standards. The Global Peace Index (GPI) for Poland is 1.43. Due to strong law enforcement presence and high social responsibility, Poland is very safe by international standards. The strength of legal rights index for Poland is 7. Overall, it is considered to be rather adequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available.
The currency of Poland is Polish zloty. There are several plural forms of the name 'Polish zloty'. These are zloty, zlotys, zlote, zlotych, zloties. The symbol used for this currency is zł, and it is abbreviated as PLN. The Polish zloty is divided into Grosz; there are 100 in one zloty.
The depth of credit information index for Poland is 8, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Poland has a credit rating score of A-, and the prospects of this rating are positive. According to the Fitch credit-rating agency, Poland has a credit rating score of A-, and the prospects of this rating are positive. According to the Moody's credit-rating agency, Poland has a credit rating score of A2, and the prospects of this rating are stable.
In Poland, the institution that manages the state's currency, money supply, and interest rates is called National Bank of Poland. Locally, the central bank of Poland is called Narodowy Bank Polski. The average deposit interest rate offered by local banks in Poland is 2.79%.
Poland has a government debt of 57.2% of the country's Gross Domestic Product (GDP), as assessed in 2012.
The corporate tax in Poland is set at 19%. Personal income tax ranges from 0% to 32%, depending on your specific situation and income level. VAT in Poland is 23%.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Poland is $959845 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Poland was last recorded at $25 million. PPP in Poland is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Poland is 525,863 billion. Based on this statistic, Poland is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Poland. The Gross Domestic Product (GDP) per capita in Poland was last recorded at $14 million. The average citizen in Poland has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Poland averaged 3.2% in 2014. According to this percentage, Poland is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Poland.
Major industries in the country are machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages, textiles. The total labor force of Poland is 18,281,080 people, wherein 4.5% of population in the country are unemployed. The total number of unemployed people in Poland is 1,714,717. The Industrial Production growth rate of Poland is 6.5%.To read more about industrial information within Poland click on industry of Poland.
There are 122545 km2 of arable land in Poland, and it comprises 39% of the country's total territory. There are 125590 km2 of cultivated land in Poland. The country's major agricultural crops and products are potatoes, fruits, vegetables, wheat, poultry, eggs, pork, dairy.To read more about agriculture click on agriculture of Poland.