$1.2 trillion The country’s free-market economy is dominated by the agricultural and mining sectors. Compared to other Western European nations of the time, Poland remained largely agrarian, and this system of feudal farming worked well for the nation. Economy - overview: Poland has the sixth-largest economy in the EU and has long had a reputation as a business-friendly country with largely sound macroeconomic policies. Since 1990, Poland has pursued a policy of economic liberalization. During the 2008-09 economic slowdown Poland was the only EU country to avoid a recession, in part because of the government’s loose fiscal policy combined with a … After the initiation of communist rule in the 1940s, the country developed an increasingly industrial, state-run command economy based on the Soviet model. The economy of Poland was dominated by a feudal system based on agriculture. $31,939 per capita Unemployment: Since 1990, Poland has pursued a policy of economic liberalization and its economy was the only one in the EU to avoid a recession through the 2007–08 economic downturn. $11.5 billion 38.0 million GDP (PPP): 3.7% Inflation (CPI): The economy of Poland is the sixth largest in the European Union and the largest among the former Eastern Bloc members of the EU. It operated within the rigid framework of Comecon (Council on Mutual Economic Assistance), an … Before World War II, Poland was a free-market economy based largely upon agriculture but with a few important centres of manufacturing and mining. As of 2019 the Polish economy has been growing steadily for the past 28 years, a record high in the EU and only surpassed by Australia in the world economy. Quick Facts Population: As such, Poland was Europe's primary domestic source of grain, cattle, and fur. 1.6% FDI Inflow: 5.1% growth 4.0% 5-year compound annual growth
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