Poland’s GDP grew 2 percent year-on-year in the first quarter of 2024, accelerating from a 1 percent expansion in the previous quarter and slightly above the preliminary estimate of 1.9 percent growth. This was the strongest economic growth since the fourth quarter of 2022, as household consumption accelerated (4.6 percent vs 0 percent in Q4 of 2023), as well as public demand (10.9 percent vs 7.5 percent). Additionally, foreign demand contributed positively to GDP as exports rose by 0.5 percent, while imports declined by 0.1 percent. Meanwhile, gross fixed capital formation tumbled (-1.8 percent vs 15.8 percent). On a seasonally adjusted quarterly basis, the economy expanded 0.5 percent after showing no growth in the prior period, and slightly above earlier estimates of 0.4 percent rise. source: Central Statistical Office of Poland (GUS)
The Gross Domestic Product (GDP) in Poland expanded 2 percent in the first quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Poland averaged 3.98 percent from 1995 until 2024, reaching an all time high of 12.30 percent in the second quarter of 2021 and a record low of -7.80 percent in the second quarter of 2020. This page provides - Poland GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Poland GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2024.
The Gross Domestic Product (GDP) in Poland expanded 2 percent in the first quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Poland is expected to be 2.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Poland GDP Annual Growth Rate is projected to trend around 3.30 percent in 2025 and 2.70 percent in 2026, according to our econometric models.
Poland GDP Annual Growth Rate
Poland’s 38-million consumer market is one of the biggest in Europe. Poland's main industries are: food and beverage processing, shipbuilding and the manufacture of machinery, iron and steel products, chemicals, glass and textiles. On the expenditure side, household consumption is the main component of GDP and accounts for 60 percent of its total use, followed by gross fixed capital formation (20 percent) and government expenditure (18 percent). Exports of goods and services account for 47 percent of GDP while imports account for 46 percent, adding 1 percent of total GDP.
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | ||
|---|---|---|---|---|---|---|---|---|
| 2.00 | 1.00 | 12.30 | -7.80 | 1995 - 2024 | percent | Quarterly | NSA |
News Stream
Poland GDP Growth Revised Higher
Poland’s GDP grew 2 percent year-on-year in the first quarter of 2024, accelerating from a 1 percent expansion in the previous quarter and slightly above the preliminary estimate of 1.9 percent growth. This was the strongest economic growth since the fourth quarter of 2022, as household consumption accelerated (4.6 percent vs 0 percent in Q4 of 2023), as well as public demand (10.9 percent vs 7.5 percent). Additionally, foreign demand contributed positively to GDP as exports rose by 0.5 percent, while imports declined by 0.1 percent. Meanwhile, gross fixed capital formation tumbled (-1.8 percent vs 15.8 percent). On a seasonally adjusted quarterly basis, the economy expanded 0.5 percent after showing no growth in the prior period, and slightly above earlier estimates of 0.4 percent rise.
2024-06-03
Polish Economy Grows The Most in 5 Quarters
Poland's GDP grew 1.9 percent year-on-year in the first quarter of 2024, the most since the last quarter of 2022, following a 1 percent increase in the previous period and slightly above expectations of a 1.8 percent expansion, preliminary data showed. On a seasonally adjusted quarterly basis, the GDP increased by 0.4%, picking up from a downwardly revised 0.1% drop in the fourth quarter of 2023.
2024-05-15
Poland Q4 GDP Growth Confirmed at 1%
Poland's GDP grew 1 percent year-on-year in the fourth quarter of 2023, in line with the preliminary estimate and accelerating from a 0.5 percent increase in Q3. Gross fixed capital formation accelerated (8.7 percent vs 7.2 percent in Q3), as well as public demand (5.7 percent vs 3.3 percent). Also, foreign demand contributed positively to GDP, with imports down 2.3 percent (vs 20.3 percent) while exports grew by 2.7 percent (vs -11 percent). Conversely, household consumption declined (-0.1 percent vs 0.8 percent). On a seasonally adjusted quarterly basis, the economy stalled, aligning with earlier estimates and following a revised 1.1 percent rise in the previous period.
2024-02-29
