The currency flow of Poland grew in recent years, as the market size of coins and banknotes increased to more than 10 percent of the country's GDP in 2019. This so-called CIC/GDP ratio roughly measures the use of cash money in the country. Due to the anonymity of cash transactions, sources struggle to find exact volumes on this. The ratio mentioned here is quite popular in that regard, as the data it needs is relatively easy to find. Some industry experts mention, however, that this ratio is too general and does not necessarily reflect retail payments.
Share of currency in circulation (CIC) to the nominal GDP of Poland from 2010 to 2021
The source only reports cash in circulation for EU-27 countries as "Euro Area-Wide-Residency"
Supplementary notes
The numbers provided have been calculated from two sources:
Currency in circulation in national currency from the IMF;
Nominal GDP in current prices and national currency from Eurostat.
The CIC to GDP ratio roughly reflects the overall use of cash in a country. Note, however, that this is quite general (as it looks at the overall market for cash) and does not exclusively look at the component of consumers.
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Statista. (September 11, 2023). Share of currency in circulation (CIC) to the nominal GDP of Poland from 2010 to 2021 [Graph]. In Statista. Retrieved February 12, 2025, from https://www.statista.com/statistics/1096283/cic-to-gdp-ratio-in-poland/?__sso_cookie_checker=failed
Statista. "Share of currency in circulation (CIC) to the nominal GDP of Poland from 2010 to 2021." Chart. September 11, 2023. Statista. Accessed February 12, 2025. https://www.statista.com/statistics/1096283/cic-to-gdp-ratio-in-poland/?__sso_cookie_checker=failed
Statista. (2023). Share of currency in circulation (CIC) to the nominal GDP of Poland from 2010 to 2021. Statista. Statista Inc.. Accessed: February 12, 2025. https://www.statista.com/statistics/1096283/cic-to-gdp-ratio-in-poland/?__sso_cookie_checker=failed
Statista. "Share of Currency in Circulation (Cic) to The Nominal Gdp of Poland from 2010 to 2021." Statista, Statista Inc., 11 Sep 2023, https://www.statista.com/statistics/1096283/cic-to-gdp-ratio-in-poland/?__sso_cookie_checker=failed
Statista, Share of currency in circulation (CIC) to the nominal GDP of Poland from 2010 to 2021 Statista, https://www.statista.com/statistics/1096283/cic-to-gdp-ratio-in-poland/?__sso_cookie_checker=failed (last visited February 12, 2025)
Share of currency in circulation (CIC) to the nominal GDP of Poland from 2010 to 2021 [Graph], Statista, September 11, 2023. [Online]. Available: https://www.statista.com/statistics/1096283/cic-to-gdp-ratio-in-poland/?__sso_cookie_checker=failed