WASHINGTON: Poland’s GDP per capita based on purchasing power exceeded $24,000 and reached 65 percent of the Western European (eurozone) level of income, the highest absolute and relative level since 1500-1600 A.D.
The quality of life seems to have increased in tandem, as reflected in international well-being ratings such as the OECD Better Life index, where Poland does better than what the income level alone would suggest. Actual individual consumption, which includes the use of public services financed by the government, rose even higher and exceeded 70 percent of that of the West.
Its sports results have also turned around: within the last six months alone, Poland’s national team became a world champion in volleyball, won a bronze medal in handball, and beat the current world champions in soccer – Germany – for the first time ever. No wonder than that more than 80 percent of Poles are satisfied with their lives, up from only half at the beginning of transition. These successes follow more than 20 years that were likely the best in Poland’s history. Since 1989, the country’s GDP per capita more than doubled, coming ahead of all European peers (Figure 1). Exports increased more than 25 times and came close to $250 billion in 2013. Since 1995, Poland has also grown faster than all large economies at a similar level of development, as reflected in average GDP per capita growth. After 23 years of uninterrupted growth – including during the 2008-09 global financial crisis, when Poland was the only EU economy not to sink into a recession – it is close to beating the world’s historic growth records.
