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Poland
Poland is the 10th largest country
in Europe. The territory of Poland spreads on 312,685 square
kilometers. Poland is situated to the north of Central Europe, with
Germany to the west, the Czech Republic to the south-west, Slovakia to the south and the Russian Federation enclave around Kaliningrad
on the Baltic coast to the north.
Fact sheet:
Country Name |
Republic of Poland (Polska) |
Location |
Central Europe |
Territory |
312,685 km2 |
Population |
38.17
million |
Unemployment |
17.2
% |
GDP
growth |
5.2%
in Q1 of 2006: 3.09-5.0% |
Average gross monthly
salary |
592 EUR |
Social
security paid by employer |
20,12% |
Capital City |
Warsaw |
Full
member
of the EU |
since 1st of May 2004 |
Currency: |
Zloty
(PLN)
average yearly exchange rates for 2005
1 USD = 3.2348 PLN 1 EUR = 4.0254 |
International Telephone
Calling Code: |
+ 48 |
Electricity: |
230V, 50 Hz |
Time
zone |
Central European Time (GMT - 1, GMT -2) |
Climate |
moderate, continental: warm summer (up to 30 C.), cold
winter (up to –15 C.) |
Economy:
Poland is one of the fastest growing economies
in Europe. This is confirmed by various market indicators, such as
Gross Domestic Product, Consumer Price Index, structure of the
labour market, competitive wages, and dynamic foreign trade
exchange.
Polish economy, with GDP growth of 3.2 % in
2005, is developing much faster than the Euro zone (1.3%) and higher
than the average of all 25 EU members (1.5%). The GDP growth for the
second quarter of 2006 was 5.5 %. Poland's growth has been driven to
a significant extent by export growth, industrial production and
investments. Employment is also slowly increasing.
Since year 2000 Polish export grows at a higher
rate than import. This is due to improved competitiveness of Polish
goods and a limited increase in domestic consumption. Polish
companies are more interested in export, many market leaders are
exporting not only to the EU markets, but also to Russia and Asian
countries. Polish goods are popular abroad, since they combine high
quality with competitive prices.
Poland is selling more and more products to
foreign countries. Polish companies conquer new markets, participate
in trade fairs and are more persuasive in attracting foreign
clients. During the last five years the value of Polish export
doubled from EUR 34,4 billion in 2000 to EUR 71,4 in 2005.
Investment:
Foreign investors in Poland look for
opportunities in Poland due the size of the Polish market, low
employment costs, economic growth and availability of human
resources. In the year 2005 inflow of FDI to Poland was 7.7 billion
USD
Poland is open for investors. Polish law
allows foreigners to set up a company or a branch office, and the
government offers many incentives.
The Polish economy, with GDP growth of 3.2 % in
2005, and in 2006 is projected to reach 5,3%. The Polish economy is
developing much faster than the Euro zone (1.3%) and more than the
average of all 25 EU members (1.5%). Poland's growth has been driven
to a significant extent by export growth, industrial production and
investments. Employment is also increasing.
Strong growth in real wages, improving labour
market and low interest rates will lead to even grater improvement
in private consumption and investment in 2006 – 2007. Exports may
expand by even 8.4% in 2006 and 8.7% in 2007.
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