Poland Economic Information
Central Bank: National Bank of Poland (NBP)
Currency: Polish zloty (PLN or zl)
Poland enjoys what could be one of the strongest economies of all eastern European countries. The Polish economy benefits from the privatization of small and medium state-owned companies as well as liberal policy on establishing new businesses. Poland's entry into the European Union in 2004 and the expected transition to the euro makes the Polish zloty a popular currency with investors.
Key industries:
Machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages and textiles.
Agricultural products:
Potatoes, fruits, vegetables, wheat, poultry, eggs, pork and dairy.
Export commodities:
Machinery and transport equipment, intermediate manufactured goods, miscellaneous manufactured goods, food and live animals.
Import commodities:
Machinery and transport equipment, intermediate manufactured goods, chemicals, minerals, fuels, lubricants and related materials.
Historical foreign currency exchange rates
 Downward Trend |
 Upward Trend |
| Source: These exchange rates are interbank rates as published by Interactive Data as of 11/16/2008. These rates were not available to retail customers and were not the rates offered by EverBank®. Past performance does not guarantee future results. |
A few factors to consider when evaluating the Polish zloty:
Reasons to consider
- Anticipation to Poland's transition to the Euro is predicted to appreciate the zloty. Transition to the European Union currency is not expected before 2012.
- Poland has experienced substantial economic growth in the last couple of years. GDP growth in 2007 was 6.5%, up from 6.2% in 2006.
Risk factors to consider
- As an emerging market, Poland's economy and the value of the zloty can be susceptible to the fluctuation of global-risk aversion.
- Due to expensive health care, education, pension and state administration system costs, Poland will be challenged to lower a budget deficit, which was 3% of GDP in 2007.
- Poland's unemployment rate of 13% in 2007 is one of the highest in the European Union.
How EverBank can help with your Polish zloty needs?
WorldCurrencySM Index CDs (Multi-currency CDs): Open a single CD comprised of multiple currencies, each designed to focus on a specific regional strength, and/or geopolitical and economic development. This currency is available in the following Index CD(s):
I'm interested in opening a WorldCurrencySM account, what is my next step?
Please note: Not all investments are right for all investors. You should conduct your own research and/or consult with an investment advisor before making any investment.
- Before opening a WorldCurrency account, we recommend reading the following pages:
- If you are ready to open your WorldCurrency account, apply online or call 800.926.4922 for more information.
- For your protection, we require that you sign and mail your application along with a deposit.
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