The Polish economy has grown quickly and steadily over the last few years. The country offers the largest internal market of all EU member states in the CEE region. Geographically, it stretches from the southern mountains, through coal-producing regions and rich central farmlands, to several of the busiest ports on the Baltic Sea coast. Poland’s location at the heart of the continent and at the EU’s border at the same time, means that major trade routes between Europe and Asia intersect within its territory.

Today Poland has one of the lowest unemployment rates in the EU. According to Eurostat data, in 2022 unemployment fell by 0.5% pp and reached 2.9% in comparison with 3.4% in 2021. It is much less than 6.8% in the Eurozone. The country is also recognised for its highly skilled and well-educated workforce.

In 2022, Poland exported goods worth EUR 343.8 billion. The value of imported goods was EUR 363.7 billion, giving a negative balance of EUR 19.9 billion. Compared to the previous year, the value of exported goods increased by 19.3% and imported goods by 25.6%. Most of the trade is carried out between Poland and other EU countries: 75.6% of exports and 51.3% of imports in value terms. The goods that accounted for the largest share of both exports and imports were machinery, equipment, and means of transport.

The report contains key information relevant to potential foreign investors. Individual sections describe the current economic and demographic situation, legal and tax issues, the M&A market and different geographical regions of Poland.

Focus areas

Condition of Poland’s economy

The Polish economy has been developing rapidly and steadily over the past few years, with an average GDP growth of 4.1% per year. In 2022, this was mainly due to fiscal policy, as well as the growing labour market, which was supported by the influx of workers from Ukraine.

Warsaw Street View- 01

Foreign investment in Poland

Poland is an attractive destination for foreign investors, and the number of M&A transactions has been growing in recent years. In 2022, 216 M&A transactions were carried out, almost one-fifth of which in the high-tech sector.

Warsaw Street View - 02

Business Services sector

Poland is the regional leader for business services in Europe and a favourable location for investors to set up new business services centres. It is one of the most important and fastest-growing sectors in Poland.

Warsaw Street View - 03


ESG regulations affect many parts of the Polish economy and the introduction of more restrictive regulations regarding greenhouse gas emissions may affect the costs of doing business, especially in sectors generating high emission levels.

Warsaw Street View - 04

Tax regulations

The Polish tax authorities hold power to undertake a tax audit in the five years after a tax liability arises and to reassess the amount of that tax liability.

Warsaw Street View - 05

Investment destination

There are 7 macroregions, made up of 16 Voivodships, where entrepreneur can run a business, all with different maximum aid intensity under the Polish Investment Zone.

Warsaw Street View - 06

Key Themes

Poland remains the sixth largest economy in Europe, with the sixth highest inflation rate in 2022 (13.2%), compared to the European average of 9.2%. Unemployment rate in Poland is below the EU average

Chart #1: Unemployment rate in Poland

Source: KPMG in Poland based on Eurostat data

The European Bank for Reconstruction and Development invested a record of EUR 990 million in Poland in 2022, 80% of which will support ecological projects and circular economies

Chart #2: Investment of European Bank for Reconstruction and Development in 2022

Source: KPMG in Poland based on the European Bank for Reconstruction and Development data

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