Poland Economy and Business

• GDP: US$567.4 billion (2008).
• Main exports: Machinery, transport, food and live animals.
• Main imports: Minerals, fuels, lubricants, chemicals and intermediate manufactured goods.
• Main trade partners: Germany, Italy, France, UK and China.

Following the chaos of the ‘big bang' strategy of rapid post-communist transition to a market economy, Poland's economy slowly strengthened during the 1990s. By 2000, the private sector accounted for 70% of GDP and the economy was looking in good shape, though it lacked behind many of its former communist neighbours.

Poland became a full member of the European Union on 1 May 2004 and plans to adopt the Euro in 2012. However, despite steadily declining unemployment since 2004 when it stood at 20% (in 2008 it was down to 9.7%), the economy has looked far more vulnerable since the global financial crisis of 2008 took hold. Another possible factor for the decline in unemployment has arguably been attributed the numbers of Poles leaving to find work in other countries. Since 2009 many Polish workers have been returning to the country as temporary jobs in Western Europe dry up, meaning that the potential for future rises in unemployment is growing month on month.

In 2008, growth was at 4.8% whilst inflation was at 4.3%.

In Poland, a formal approach is favoured and it is therefore advisable to address an associate with a title and surname unless there is an established rapport.

Office hours: Mon-Fri 0830-1700; traditionally offices were open from 0700-1500.

The most popular conference venues are in Warsaw. Events are also hosted in Cracow, while Gdansk, Wroclaw and other towns are used occasionally.

Krajowa Izba Gospodarcza (Polish Chamber of Commerce)
Ulica Trebacka 4, 00-074 Warsaw, Poland
Tel: (022) 630 9600.
Website: www.kig.pl