In times of global economic crisis Poland has strengthened its position, not only in the Central and Eastern part of the continent but also in all Europe. Nowadays Poland is one of the most interesting locations for international investments. Foreign reports emphasize the political and economic stability of this country, well-educated employees and impressive domestic market. Poland has 38-million consumer market which is one of the biggest in Europe. It´s advantageous location, in the center of Europe, is where the main communication routs intersect. Consequently it is easier to export goods to all European countries and reach over 500 million consumers. Among others Poland’s major trade partners are: Germany, Russia, China, France, Italy, UK, Ukraine, Hungary, and Spain.
The FDI which Poland attracted in 2011 reached 13.567 billion euros. This presents a 30% increase over the previous year. The number of new investment plans is constantly growing, especially in the R&D, automotive, chemical sectors and electronic. The investments are becoming more oriented towards intellectual potential of employees. This is confirmed by a second place of Cracow in the ranking of the most attractive location for emerging markets. Polish law is rather profitable for international entrepreneurs. The government offers investors various forms of help such as: possibility to benefit from the EU structural funds, CIT tax at the level of 19% and investment incentives in 14 Special Economic Zones (for example: real estate tax exemption, income tax exemption and competitive land prices), several industrial and technology parks, brownfield and greenfield locations.
Poland’s sustainable development has roots in its solid economic foundations. Economic crisis didn’t harm Poland, in contrary, as the only country in Europe which avoided a recession; it developed at the highest rate on the continent. It is important to notice that at the time when public debt is a major problem for many countries, the debt-to-GDP ratio in Poland is meaningfully below average (57%). All that factors together with the country’s international safety and stability guaranteed by Poland’s membership in the EU and in NATO make Poland a reliable and important business partner for international companies. Well-educated Polish engineers, economists, scientists and IT specialists are highly admired and appreciated employees who find employment in scientific institutes, R&D centers and IT companies in all over the world. Every year, the number of graduates of Polish universities increase, including faculties useful in high-tech industries. In the 2010/2011 academic year Polish universities completed nearly half a million students, and 1.7 million people has studied. There is a growing number of people taking a PhD.
World class international companies frequently choose Poland as an investment destination in Europe. According to Bloomberg Rankings 2013 Poland is the best CEE country for business. In FDI Intelligence Report Poland took 3rd place worldwide, behind China and the USA as the best quality location for manufacturing projects. According to the report of European Attractiveness prepared by Ernst & Young, in the next three years Poland will be the second in Europe (after Germany) most attractive country for investments. As the strengths of Poland, other than a stable macroeconomic situation, the experts have mentioned the availability of well qualified and productive employees, business friendly climate and transparent tax and legal systems. A World Bank report Doing Business 2013 confirms that Poland was the global top improver in the past years.
Exports & Imports
Importsof Poland increased to 13693 million euro in March of 2014 from 12754 million euro in February of 2014. Most of Poland’s imports are capital goods needed for industrial retooling and for manufacturing inputs: intermediate manufactured goods, machinery and transport equipment, minerals, chemicals, fuels and lubricants. Poland’s main import partners are European Union members (Germany, Italy, France), Russia and China. Exports in Poland increased to 14168 million euro in March of 2014 from 13057 million euro in February of 2014. From the beginning of the past decade, Poland’s foreign trade turnover increased almost ten-fold. Poland is a net exporter of processed fruit and vegetables, dairy products and meat. The country is also an exporter of electromechanical products (42% of total export): aircraft, vehicles and vessels. Poland´s main export partners are Germany, France, Italy, UK and Czech Republic.