In the last 18 years, Poland’s GDP per capita (PPP) has doubled, the agency wrote on its website.
The increase also bridged the gap between Poland and other European economies, taking Poland’s GDP per head from 51.5% of the EU average to a remarkable 77.1%.
The country’s accession to the EU and, by extension, to the European Single Market allowed for a huge economic leap, driving up Poland’s exports to 216bn euros, a value five times higher than that of 2004.
Also, Poland’s cumulative economic growth would today be 40% lower hadn’t the country joined the EU nearly 20 years ago.
Therefore, without the EU accession Poland would now be at the development stage it in fact reached back in 2014, PIE’s analysis has found.
The agency further stressed that more than 25% of Poland’s GDP is directly or indirectly based on EU trade.
Meanwhile, Germany remains Poland’s most pivotal partner in the whole of the European Union.
Germany’s demand is estimated to have created 1.15m new jobs in Poland and accounts for more than 7% of the Polish GDP.
(pjm)
Source: Polski Instytut Ekonomiczny