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Investment outlays down by 0.9% in 2012


Large and medium-sized companies employing 50 or more people reported investment outlays of just over PLN 99.7bn (approx. €23.8bn) in 2012, which in real terms translates into a decline of 0.9% year on year, according to the Central Statistical Office (GUS). By way of comparison, in 2011 investments grew by 10.8%.

Expenditures on machinery, technical equipment and tools – the largest category representing 47% of the total – decreased by 1.6%. Outlays on buildings and structures (about 41% of the total) grew by 3.4%. Investments in transport equipment (11%) showed the greatest weakness, slumping by 12.2% compared with 2011.

Of the main sectors of the economy (for which GUS reports data in nominal terms), the biggest increase in investment outlays occurred in mining-quarrying (up by 20.8%). In transport and storage investments went up by 4.2%, in trade and repair of motor vehicles by 3.5%, and in electricity, gas, steam and air conditioning supply by 0.6%. On the other hand, in the manufacturing sector investment expenditures were down by 0.6%, in water supply, sewerage, waste management and remediation activities by 0.7%, in information and communication by 7.6%, in accommodation and catering by 8%, in real estate activities by 8.5%, in administrative and support service activities by 12.4%, and in the construction sector by 18%.

As for the country’s manufacturing sub-sectors, investments were up in 12 and down in 10 industries. The biggest increase occurred in the manufacture of electrical equipment (up by 54.7%), followed by production of wearing apparel (up by 27.5%), beverages (up by 22.8%), other transport equipment (up by 21.7%), and printing and reproduction of recorded media (up by 18.7%). Double-digit increases, or close, were also noted in tobacco products (up by 15.3%), textiles (up by 11.9%), rubber and plastic products (up by 11.6%) and in wood, cork, straw and wicker products (up by 9.5%).

The biggest drop in investments was noted in leather and related products (down by 38.2%), followed by computer, electronic and optical products (down by 34.1%), basic metals (down by 22.9%), paper and paper products (down by 22.2%), pharmaceuticals (down by 18.3%), and motor vehicles, trailers and semi-trailers (down by 10.1%). In coke and refined petroleum products investments declined by 9.8%, in metal products by 2.7%, in other non-metallic mineral products by 2.6%, and in food products by 1%.

According to national accounts, total gross fixed capital formation in the economy went up by 0.6% in real terms in 2012.

Investment outlays in Poland, by key sectors, 2012
Note: data from enterprises employing 50 or more people
* real change
** nominal change
GUS, 2013
(PLN bn)
Y-o-y change
Industry 60.3 1.9%**
- mining and quarrying 7.3 20.8%**
- manufacturing 31.5 -0.6%**
- electricity, gas, steam and air conditioning supply 17.0 0.6%**
- water supply; sewerage, waste management and remediation activities 4.6 -0.7%**
Construction 2.5 -18.0%**
Trade; repair of motor vehicles 9.9 3.5%**
Transportation and storage 11.9 4.2%**
Accommodation and catering 0.8 -8.0%**
Information and communication 5.8 -7.6%**
Real estate activities 1.4 -8.5%**
Administrative and support service activities 4.7 -12.4%**

Investment outlays in manufacturing in Poland, by sub-sectors (y-o-y nominal change, %), 2012

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