While Germany grapples with concerns regarding deindustrialization, partly due to the aftershocks of surging gas prices and the Ukraine war, Poland has witnessed an 85% surge in output per person over the past decade, reaching USD 43,113, against Germany’s 46% rise, according to OECD data, quoted in the article by the UK daily.
Tomas Dvorak, a senior economist at Oxford Economics, marvels at Poland's resilience amidst global crises. "Poland might be the only country in Europe – possibly worldwide – where industrial production has not only surpassed pre-pandemic levels but is actually back on pre-pandemic trend," he said, as quoted by the daily.
According to “The Daily Telegraph”, factors like supportive government policies, lower wages, and strategic investment in sectors like battery manufacturing and nuclear power have played pivotal roles in bolstering Poland’s industrial prowess.
Contrastingly, Germany’s manufacturing industry has contracted in the past decade, while Poland has expanded its factory output and successfully attracted international investments, notably from Intel and potentially Taiwan Semiconductor Manufacturing Company.
The daily also highlighted Poland's robust growth in infrastructure, ambitious nuclear power plans, and successful near-shoring of supply chains as contrasting Germany’s “reluctant” policies on nuclear and industrial deceleration.
Despite Germany maintaining a dominant 26% of the EU’s manufacturing output compared to Poland’s 6%, the Slavic country is, according to “The Daily Telegraph”, undeniably ascending the global industrial ladder, prompting economists to spotlight the necessity for continuous evolution in Poland’s industrial sector to maintain competitiveness.
(jh)
Source: PAP, The Daily Telegraph