Socio-Economic Development and Competitiveness: Poland

Introduction

Poland is one of the biggest countries in the European Union (EU) in terms of population (ranked 6), area (ranked 6), and economy (ranked 8, by gross domestic product (GDP) in current prices) (Eurostat, 2013). The large consumer market and economic growth, political stability, availability of well-educated employees, relatively low labor costs, and a prime location (in the center of Europe and at the intersection of major Pan-European corridors) make the country an attractive location for foreign direct investment (FDI). During the recent economic crisis, Poland avoided a recession (it was the only country in the EU that experienced GDP growth each year between 2008 and 2013). It also strengthened its socio-economic competitiveness, which is reflected in improvement of a number of international rankings. In 2012, GDP per capita in Poland was 67% of the EU-27 average, in comparison to 51% in 2005 and 56% in 2008 (Eurostat, 2014). Key facts about Poland are presented in Table 1.

Source: Own elaboration based on Central Statistical Office of Poland and Eurostat data. Retrieved February 10, 2014 from www.epp.eurostat.ec.europa.eu.