After a strong fourth quarter as the year closes, Poland’s economy is expected to continue to expand in 2025. With economic growth spurred on by increased consumption and infrastructure funding, the economy should remain strong despite predictions that inflation will pick up slightly in the new year.  

Poland’s economic growth is aided by private consumption, with raising wages, increased government spending to support families and receding inflationary pressures allowing many Polish shoppers to be less conservative with their shopping habits.  

Poland’s steady growth and booming economy can be attributed, at least in part, to assistance from the European Union over the last two years, with over $300 billion in structural funds from the EU aiding the modernization of Polish infrastructure. Had Poland not joined the EU, the country’s GDP per capita would be 31% lower, according to the Polish Economic Institute, reaching on 60% of the EU average.  

Joining the EU two decades earlier revolutionized Poland’s economy. After joining the European Union in 2004, the country’s GDP nearly tripled with steady growth despite headwinds during the 2008 financial crisis and the Covid-19 pandemic. Over the last year, Poland’s GDP grew by 3%, while the EU’s GDP grew by 0.9%. Poland is currently the sixth largest contributor to the EU economy, representing 4.3% of the bloc’s total GDP.  

Credit managers with accounts in Poland are offering relatively standard terms, according to FCIB’s Credit and Collections survey, with 55% of credit managers reporting their accounts are on 1–30-day terms, 27% reporting 31–60-day terms and 9% offering 61–90-day terms. However, 9% of credit managers opt to not extend credit to customers in Poland.  

On average, accounts in Poland are ten days beyond terms, according to respondents, with 90% of respondents reporting that there have been no significant changes to the delays. Billing disputes are the biggest roadblock for credit managers serving accounts in Poland, according to 67% of respondents. Additionally, 50% of credit managers attribute delays to cash flow issues. Wire transfer is the preferred payment for 55% of credit managers when it comes to managing their Polish accounts, followed by 18% who prefer EFT and 18% who prefer a check.  

Survey respondents advise fellow credit managers to make sure that they know their customers. “With continued global inflation, war in Turkey and high interest, you need to know your true legal customer to prevent fraud and keep your A/R secured,” one respondent wrote.  

Having a strong relationship with your customers and getting detailed financial information can help credit managers gain a sense of control when it comes to foreign accounts. “Obtain updated credit information,” another respondent wrote. “Look for owner and addresses verification, as changes are often not communicated by the customer. Know all you can about the customer. Pull a credit report for payment history and legal status and name verification.” 

Knowing your customer is essential in domestic and international credit, and while managing an overseas account can complicate this process, it is important that credit managers do their due diligence to best protect their company from risk.