The economy of Poland is the sixth largest economy in the European Union, and the largest among the former Eastern Bloc members of the European Union. Since 1990 Poland has pursued a policy of economic liberalization and its economy was the only one in the EU to avoid a recession through the 2008-2009 economic downturn. In all, as of 2017 the Polish economy has been growing steadily for the past 26 years, a record high in the EU. Such growth has been exponential, with GDP per capita at purchasing power parity growing on average by 6% p.a. over the last 20 years, the most impressive performance in Central Europe.
Poland is ranked 20th worldwide in terms of GDP and classified as high-income economy by World Bank. The largest component of its economy is the service sector (62.3.%), followed by industry (34.2%) and agriculture (3.5%). With the economic reform of 1989 the Polish external debt increased from $42.2 billion in 1989 to $365.2 billion in 2014. Poland shipped US$198.2 billion worth of goods around the globe in 2015, up by 5.4% since 2011 and down 7.6% from 2014 to 2015. The top Polish exports include machinery, electronic equipment, vehicles, furniture, and plastics.
According to the Central Statistical Office of Poland, in 2010 the Polish economic growth rate was 3.9%, which was one of the best results in Europe. In 2014 its economy grew by 3.3% and in 2015 by 3.6%. Although in 2016 economic growth sharply slowed, government stimulus measures combined with a tighter labour market in late 2016 kick-started new growth.