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Investment outlays down by 3.2% in 2010


2011-03-24



Large and medium-sized companies employing 50 or more people reported investment outlays of just over PLN 89.2bn (approx. €22.3bn) in 2010, which in real terms translates into a decline of 3.2%, according to the Central Statistical Office (GUS). By way of comparison, in 2009 investments slumped by 11.9%.

Expenditures on machinery, technical equipment and tools – the largest category representing 45% of the total – contracted by 8.6% in real terms in comparison with 2009. Outlays on buildings and structures (42% of all investments) declined by 3.5%. By contrast, investments in transport equipment (11% of the total) jumped by 29.4%.

Of the main sectors of the economy (for which GUS reports data in nominal terms), the largest drops in investment outlays occurred in manufacturing (down by 19.7%), real estate activities (down by 17.7%) and in trade and repair of motor vehicles (down by 14.8%). Above-average contractions were noted e.g. in mining-quarrying (down by 7.6%), construction (down by 6.1%), or information and communication activities (down by 5.5%). On the other hand, investments in accommodation and catering surged by 38.2% and in electricity, gas, steam and air conditioning supply by 21.6%; in transportation and storage they increased by 12.3% and in water supply, sewerage, waste management and remediation activities they were up by 11.5%.

As for the country’s manufacturing sub-sectors, four industries experienced nominal declines in investments of over 40%: basic metals (down by 55.2%), coke and refined petroleum products (down by 48.3%), tobacco products (down by 45.7%), and wearing apparel (down by 41.1%). Only three sectors saw investments increase compared with 2009: leather and related products (up by 33.9%), wood, cork, straw and wicker products (up by 12.3%), and food products (up by 7.9%).

According to national accounts, total gross fixed capital formation in the economy was down by 2% in real terms in 2010.



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