Chamber of Commerce Country Factsheet Last update: 15.05.2017
Your advisors at the Chamber of Commerce
- Steven Koener+352423939379
- Diana Rutledge+352423939335
Poland's history as a state begins near the middle of the 10th century. By the mid-16th century, the Polish-Lithuanian Commonwealth ruled a vast tract of land in central and eastern Europe. During the 18th century, internal disorders weakened the nation, and in a series of agreements between 1772 and 1795, Russia, Prussia, and Austria partitioned Poland among themselves. Poland regained its independence in 1918 only to be overrun by Germany and the Soviet Union in World War II. It became a Soviet satellite state following the war, but its government was comparatively tolerant and progressive. Labor turmoil in 1980 led to the formation of the independent trade union "Solidarity" that over time became a political force with over ten million members. Free elections in 1989 and 1990 won Solidarity control of the parliament and the presidency, bringing the Communist era to a close. A "shock therapy" program during the early 1990s enabled the country to transform its economy into one of the most robust in Central Europe. Poland joined NATO in 1999 and the European Union in 2004. With its transformation to a democratic, market-oriented country largely completed, Poland is an increasingly active member of Euro-Atlantic organizations.
Source: The CIA World Factbook - Poland
Real GDP growth is projected to increase from around 3% in 2016 to 3½ per cent in 2017. Rising employment and wages, higher social transfers and low energy prices will support faster consumption growth. Easy credit conditions, and a pick-up in infrastructure investment supported by EU funds in 2017, will also underpin stronger investment. Consumer price inflation is projected to gradually rise, as energy prices stabilise and the labour market tightens.
The central bank should start increasing interest rates robust growth absorbs the remaining economic slack and price pressures emerge in late 2017. Additional fiscal consolidation would help finance new social spending and investment in infrastructure and skills over the longer term. Enhancing employment incentives for women and older workers, as well as increasing green taxes, would raise fiscal revenues, with positive effects on potential growth and environmental outcomes.
Planned investments in infrastructure, notably public transport, will strengthen productivity growth and well-being. At the same time, developing the rental housing market and life-long training opportunities would enhance workers’ mobility and skills, reducing inequality. Easing regulatory barriers to firms’ entry and growth would also improve prospects for young, dynamic firms and raise productivity.
Source: OECD - Economic Forecast
|Gross domestic product, constant prices|
|Gross domestic product, current prices|
U.S. dollars (Billions)
|Gross domestic product per capita, current prices|
U.S. dollars (Units)
|Inflation, average consumer prices|
|Volume of imports of goods and services|
|Volume of exports of goods and services|
Percent of total labor force
|Current account balance|
U.S. dollars (Billions)
|Current account balance|
Percent of GDP
Source: IMF Statistics - Poland
Luxembourg and the country
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
- Convention from 14.6.1995 (Memorial 1996, A, p. 883)
- Effective as of 07.31.1996 (Memorial 1996, A, p.1602)
- Convention from 07.06.2012 (Memorial A n°114, page 1696) effective from 01.01.2014
Air Services agreement
- Agreement from 29.09.1969 (Memorial 1971, A, p. 2170)
- Effective as of 20.12.1971 (Memorial 1972, A, p. 441)
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Contact points in Poland
Embassy of the Grand Duchy of Luxembourg in Poland
Ambassador M. Conrad BRUCH
15 IU Sloneczna
Tel.: +48 22 507 86 50
Fax: +48 22 507 86 61
Economic and Commercial Attaché (AWEX):
Mme Laurence MARTAUX
Stratos Office Center
IU. I. Ks Skorupki 5
Tel: +48 22 583 70 11
Fax: +48 22 583 70 19
Source: Ministry of Foreign Affairs of Luxembourg Source: www.awex.be
Country risk as defined by Office du Ducroire for Poland
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
Other useful links
- CIA World factbook on Poland
- Luxembourg-Poland Business Club
- Belgian-Luxembourg-Polish Chamber of Commerce
- Invest in Poland
- La Pologne sur le site de l'Awex
- La Pologne sur France Monde Express
- Warsaw Chamber of Commerce
- Doing Business in Poland
- Das ist Polen
The Chamber of Commerce and the country
- 06.05.2014 - 09.05.2014