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Investment outlays up by 10.8% in 2011


Large and medium-sized companies employing 50 or more people reported investment outlays of just under PLN 99.9bn (approx. €24.2bn) in 2011, which in real terms translates into an increase of 10.8%, according to the Central Statistical Office (GUS). By way of comparison, in 2010 investments fell by 3.2%.

Expenditures on machinery, technical equipment and tools – the largest category representing 47.1% of the total – rose 15.1% compared with 2010. Outlays on buildings and structures (39.1% of the total) grew by 3.1%, while investments in transport equipment (12.4%) jumped by 22.4%.

Of the main sectors of the economy (for which GUS reports data in nominal terms), the largest increases in investment outlays occurred in transportation and storage (up by 45.7%) and in mining and quarrying (up by 31.5%). Above-average growth was also noted in administrative and support service activities (up by 16.8%), manufacturing (up by 13.6%), electricity, gas, steam and air conditioning supply (up by 13.3%), and in the construction sector (up by 11%). In information and communication activities investments went up by 5.1%, and in trade and repair of motor vehicles by 5%. On the other hand, investments in water collection, treatment and supply tumbled by 35.7%, in accommodation and catering they declined by 10%, and in real estate by 8.5%.

As for the country’s manufacturing sub-sectors, three industries saw increases in investment outlays of over 60% last year: in the manufacture of other transport equipment investments surged by 72.2%, in tobacco products by 66.8%, and in motor vehicles, trailers and semi-trailers by 63.8%. Investments in the manufacture of other non-metallic mineral products rose by 44.3%, in basic metals by 39.3%, in rubber and plastic products and in textiles by 32.3%, in pharmaceuticals by 25.5%, in metal products by 22.4% and in machinery and equipment by 19.7%. By far the biggest drop in investments occurred in the manufacture of coke and refined petroleum products, which slumped by 51.5%. Outlays were also lower in the manufacture of leather and related products (down by 11.3%), in printing and reproduction of recorded media (down by 6.8%), in wood, cork, straw, and wicker products (down by 3.2%), or in computer, electronic and optical products (down by 2.6%).

According to national accounts, total gross fixed capital formation in the economy went up by 8.5% in real terms in 2011.

Value of investment outlays in Poland (PLN bn), 2005-2011

Investment outlays in Poland, by key sectors, 2011
Note: data from enterprises employing 50 or more people
* real change
** nominal change
GUS, 2012
(PLN bn)
Y-o-y change
Industry 59.2 8.5%**
- mining and quarrying 6.0 31.5%**
- manufacturing 31.7 13.6%**
- electricity, gas, steam and air conditioning supply 16.9 13.3%**
- water supply; sewerage, waste management and remediation activities 4.6 -35.7%**
Construction 3.1 11.0%**
Trade; repair of motor vehicles 9.6 5.0%**
Transportation and storage 11.4 45.7%**
Accommodation and catering 0.9 -10.0%**
Information and communication 6.3 5.1%**
Real estate activities 1.5 -8.5%**
Administrative and support service activities 5.4 16.8%

Investment outlays in manufacturing in Poland, by sub-sectors (y-o-y nominal change, %), 2011

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