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Warsaw is the capital of and largest city in Poland and its the 9th largest city in the European Union. It is located on the Vistula River roughly 370 kilometers (230 mi) from both the Baltic Sea coast and the Carpathian Mountains . Its population as of 2006 was estimated at 1,700,536, with a metropolitan area of approximately 2,600,000.

Warsaw, especially its city center (Sródmiescie), is home not only to many national institutions and government agencies, but also to many domestic and international companies. In 2003, 268,307 companies were registered in the city. Foreign investors' financial participation in the city's development was estimated in 2002 at over 650 million euro . Warsaw produces 13.3 % of Poland's national income which per capita is estimated at around 290 % of Polish average. The nominal GDP (PPP) per capita in Warsaw was about $28,000 in 2005 and $ 38,000 in 2007. At the same time the unemployment rate is one of the lowest in Poland, not exceeding 3%, according to the official figures. The city itself collects around 8,740,882,000 zlotys in taxes and direct government grants.

It has been said that Warsaw, together with Frankfurt , London and Paris , is one of the tallest cities in Europe. 11 of the tallest skyscrapers in Poland, 9 of which are office buildings, are located in Warsaw. The tallest structure, the centrally located Palace of Culture and Science, is the 4th tallest building in the European Union . Warsaw hosts the headquarters of Frontex, the EU's border control agency.

Although Warsaw was home to a stock exchange since 1817, in 1945, because of political changes after World War II, it could not be recreated. It only started operating again in April 1991, after the reintroduction of the free-market economy. It is now the biggest stock exchange in the country, with more than 300 companies listed. Oddly enough, from 1991 until 2000 the stock exchange was situated in the building previously used as the headquarters of the PZPR (Polish Communist Party). The capitalization of the exchange is 440,92 billion $ (28 December 2007).

During Warsaw's reconstruction after World War II, the communist authorities decided that the city would become a major industrial center. Numerous large factories were built in the city or just outside it. The largest were the Huta Warszawa Steel Works and two car factories.

As the communist economy deteriorated, these factories lost significance and most went bankrupt after 1989. Today, the Arcelor Warszawa Steel Mill (formerly Huta Warszawa) is the only major factory remaining. The FSO car factory produces cars mostly for export.

Source: Wikipedia. All text is available under the terms of the GNU Free Documentation License