page_title: Economy of Poland
section_title: Production industries
hierarchical_section_title: Economy of Poland / Sectors / Production industries
caption_attribution_description: Polski: Budynek Giełdy Papierów Wartościowych w Warszawie przy ul. Książęcej 4 w Warszawie
context_page_description: The economy of Poland is the sixth largest in the European Union and the largest among the former Eastern Bloc members of the EU. 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. 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. GDP per capita at purchasing power parity has grown on average by 6% p.a. over the last 20 years, the most impressive performance in Central Europe resulting in the country increasing its GDP seven-fold since 1990.
  Poland is classified as a high-income economy by the World Bank and ranks 21st worldwide in terms of GDP as well as 24th in the 2017 Ease of Doing Business Index. Poland has a highly diverse economy that ranks 21st in the 2016 Economic Complexity Index. The largest component of its economy is the service sector, followed by industry and agriculture. With the economic reform of 1989 the Polish external debt increased from $42.2 billion in 1989 to $365.2 billion in 2014.
context_section_description: Before World War II, Poland's industrial base was concentrated in the coal, textile, chemical, machinery, iron, and steel sectors. Today it extends to fertilizers, petrochemicals, machine tools, electrical machinery, electronics, car manufacture and shipbuilding.
  Poland's industrial base suffered greatly during World War II, and many resources were directed toward reconstruction. The socialist economic system imposed in the late 1940s created large and unwieldy economic structures operated under a tight central command. In part because of this systemic rigidity, the economy performed poorly even in comparison with other economies in Central Europe.
  In 1990, the Tadeusz Mazowiecki government began a comprehensive reform programme to replace the centralised command economy with a market-oriented system. While the results overall have been impressive, many large state-owned industrial enterprises, particularly the rail, mining, steel, and defence sectors, have remained resistant to change and the downsizing required to survive in a market-based economy.
caption: Warsaw Stock Exchange is the largest stock exchange in East and Central Europe
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