9 Facts: Resurging Poland

Poland has come a long way since the fall of the Soviet Union.

October 8, 2014

Credit: Tomasz Bidermann - Shutterstock.com

1. Poland is the only nation in Europe to see growth in every quarter since the financial crisis six years ago.

 
2. Poland’s GDP in 2014 is 25% above 2008 levels.

 
3. Meanwhile, the average GDP for countries in the European Union remains below its 2008 levels.

 
4. In 2003, Poland exported $53 billion worth of goods.

 
5. A decade later, exports grew to $203 billion.

 
6. The European Union has contributed about $180 billion to Poland since the fall of the Soviet Union.

 
7. EU aid was made available to Poland after membership in May of 2005 but it took about three years to produce suitable projects.

 
8. As a result, this investment began to hit the Polish economy just as the financial crisis was happening.

 
9. Total household debt, is below 60% of total disposable income in Poland, compared to 93%  in Germany and 140 % in Spain.

Source: With Robust Economy, Poland Navigates Around Eastern Europe’s Strains by Rick Lyman (New York Times)

Takeaways

Poland is the only nation in Europe to see growth in every quarter since the financial crisis hit six years ago.

The European Union has contributed about $180 billion to Poland since the fall of the Soviet Union.

Total household debt, is below 60 percent of total disposable income in Poland, compared to 93 percent in Germany.