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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
The consumer electronics and household appliance manufacturing sectors play a key role in Poland’s economy. They respectively correspond to the categories of “computer, electronic and optical products” and ...
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Poland’s insignificant oil and modest gas reserves mean the country is heavily reliant on imports to meet the ever-growing demand. Polish production of crude oil accounted for only 3.6% of demand from refineries in 2020. Domestic production of ...
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Civil engineering construction and assembly production by construction entities in Poland was worth PLN 57.6bn in 2019, recording an increase of 6.3% that year, while the construction and assembly production of specialised construction ...
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The COVID-19-induced recession meant it was vital for governments around the world to work hard to counteract the wide-ranging effects of the pandemic. While private investments may have suffered from the uncertainty of the pandemic, ...
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Much like the rest of the world, the countries from Emerging Europe* are increasingly turning towards renewable energy (RE) to diversify their energy mix, reduce greenhouse emissions, and thus achieve a sustainable economic growth model. ...
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Poland is still lagging behind its EU peers in terms of the share of electricity generated from renewable energy sources, positioned 22nd of the 27 states, according to Eurostat data for 2019. However, the sector has seen ...
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Driven by a large population and steadily increasing incomes, the Polish retail sector has been one of the most dynamic in the EU, as retail sales reached 40% of GDP in 2019. The COVID-19 pandemic in 2020 resulted in a 2.6% y/y decline in ...
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The beverage manufacturing sector in Poland was responsible for 1.4% of the country’s GDP in 2019 and generated 23,100 direct jobs. Poland is a significant alcoholic and non-alcoholic beverages producer. It ranks no. 1 in the EU and ...
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The metallic and non-metallic minerals mining sector (in Statistics Office data as mining and quarrying excluding coal and lignite) generated 1.4% of Poland’s GDP in 2019 and provided direct employment to 53,900 people. The main ...
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The Polish banking sector is one of the most developed in Central and Eastern Europe (CEE), but it still lags the level of development in Western Europe. At the end of 2020, the banking sector’s assets were worth 101.7% of GDP, which ...
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