Markets Actual Q3 Q4 Q1 Q2 2021
Currency 3.96 3.98 4 4.02 4.04 4.08
Stock Market (points) 51136.63 50378 49303 48247 47212 45143
Government Bond 10Y (%) 1.36 1.32 1.37 1.42 1.47 1.57

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -0.40 3.3 2 1.5 1.1 0.8
GDP Annual Growth Rate (%) 2.00 -6.2 -4.2 -1.6 7.9 4
Unemployment Rate (%) 6.00 8.8 9.5 9.4 8.9 7.6
Inflation Rate (%) 3.30 1.8 1.1 1.2 1.7 3.6
Inflation Rate Mom (%) 0.70 -0.4 0.3 0.3 0.4 0.3
Interest Rate (%) 0.10 0.1 0.1 0.1 0.1 0.1
Balance of Trade (EUR Million) -33.00 -1730 -300 -800 600 1000
Current Account (EUR Million) 1163.00 320 510 360 -220 280
Current Account to GDP (%) 0.50 0.6 0.6 0.9 0.9 0.9
Government Debt to GDP (%) 46.00 58 58 57 57 57
Government Budget (% of GDP) -0.70 -8.2 -8.2 -4.4 -4.4 -4.4
Business Confidence (points) -19.90 -18 -16 -12 -14 -7
Manufacturing PMI (points) 47.20 52 50.8 51 51.6 52.5
Consumer Confidence (points) -19.40 -12 -14 -10 -7 -8
Retail Sales MoM (%) 10.10 0.5 0.4 -0.4 0.5 0.5
Corporate Tax Rate (%) 19.00 19 19 19 19 19
Personal Income Tax Rate (%) 32.00 32 32 32 32 32

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -0.40 3.3 2 1.5 1.1 0.8
GDP Annual Growth Rate (%) 2.00 -6.2 -4.2 -1.6 7.9 4
GDP (USD Billion) 592.16 490 490 550 550 550
GDP Constant Prices (PLN Million) 538385.00 532917 588521 529771 580917 612062
Gross Fixed Capital Formation (PLN Million) 70718.40 95638 149530 69587 76305 155511
GDP per capita (USD) 17386.90 15500 15500 15900 15900 15900
GDP per capita PPP (USD) 33086.40 31200 31200 32400 32400 32400

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 6.00 8.8 9.5 9.4 8.9 7.6
Youth Unemployment Rate (%) 9.10 9.4 9.4 9.3 8.8 8.8
Labour Costs (points) 122.70 115 107 124 125 109
Wages (PLN/Month) 5331.47 4749 5078 5385 5411 5180
Wages in Manufacturing (PLN/Month) 4852.56 4728 5028 5266 4925 5128
Wage Growth (%) 1.20 -3.7 -2.3 1 1.5 2
Minimum Wages (EUR/Month) 610.79 611 611 675 675 675
Population (Million) 37.97 38 38 38.01 38.01 38.01
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 65.00 65 65 65 65 65
Labor Force Participation Rate (%) 56.00 52.5 54.5 54.5 55.9 55.4
Employment Change (%) -3.20 -2.8 -2 2.6 3.2 4
Employment Rate (%) 68.50 64.5 64.9 65.6 66 67

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 3.30 1.8 1.1 1.2 1.7 3.6
Inflation Rate Mom (%) 0.70 -0.4 0.3 0.3 0.4 0.3
Consumer Price Index CPI (points) 183.80 182 183 187 187 190
Core Inflation Rate (%) 3.80 2.2 2.4 2.5 2.3 2.2
GDP Deflator (points) 109.51 109 109 111 111 113
Producer Prices (points) 104.90 105 105 106 106 106
Producer Prices Change (%) -1.50 -1.4 -1 0.2 0.8 1.2
Food Inflation (%) 5.80 3.2 2.5 2.2 2.6 2.2
Harmonised Consumer Prices (points) 107.70 107 107 109 110 111

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 0.10 0.1 0.1 0.1 0.1 0.1
Interbank Rate (%) 0.16 0.16 0.16 0.16 0.16 0.16
Foreign Exchange Reserves (USD Million) 132787.70 134000 132000 136000 129000 140000
Deposit Interest Rate (%) 0.00 0 0 0 0 0
Private Debt to GDP (%) 120.60 134 134 126 126 126
Cash Reserve Ratio (%) 0.50 0.5 0.5 0.5 0.5 0.5

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (EUR Million) -33.00 -1730 -300 -800 600 1000
Current Account (EUR Million) 1163.00 320 510 360 -220 280
Current Account to GDP (%) 0.50 0.6 0.6 0.9 0.9 0.9
Imports (EUR Million) 13812.00 14150 15500 17000 17900 16500
Exports (EUR Million) 13779.00 12420 15200 16200 18500 17500
Foreign Direct Investment (EUR Million) 199789.70 195100 195100 196900 196900 196900

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 46.00 58 58 57 57 57
Government Budget (% of GDP) -0.70 -8.2 -8.2 -4.4 -4.4 -4.4
Government Budget Value (PLN Million) -25881.60 -105100 -90600 -8600 -28000 -81600
Government Spending (PLN Million) 100423.80 96749 115646 98817 108357 120271
Government Spending to GDP (%) 42.00 50 50 44 44 44
Government Revenues (PLN Million) 157069.70 215400 365000 102000 177500 369000
Government Debt (PLN Million) 1077179.76 1145000 1202000 1212000 1245000 1191000
Fiscal Expenditure (PLN Million) 182951.30 320500 455600 110600 205500 450600

Taxes Actual Q3 Q4 Q1 Q2 2021
Corporate Tax Rate (%) 19.00 19 19 19 19 19
Personal Income Tax Rate (%) 32.00 32 32 32 32 32
Sales Tax Rate (%) 23.00 23 23 23 23 23
Social Security Rate (%) 35.85 35.85 35.85 35.85 35.85 35.85
Social Security Rate For Companies (%) 22.14 22.14 22.14 22.14 22.14 22.14
Social Security Rate For Employees (%) 13.71 13.71 13.71 13.71 13.71 13.71

Business Actual Q3 Q4 Q1 Q2 2021
Business Confidence (points) -19.90 -18 -16 -12 -14 -7
Manufacturing PMI (points) 47.20 52 50.8 51 51.6 52.5
Industrial Production (%) -17.00 -4.2 -3.2 -3.2 8.5 4.5
Industrial Production Mom (%) 12.50 -0.7 -1 -1 0.8 0.5
Manufacturing Production (%) -18.60 -4.7 -3.6 -3.6 9.6 5
Car Production (Thousand Units) 3.50 32 21 25 29 32
Car Registrations 21149.00 39600 45900 44900 36400 52400
Corporate Profits (PLN Million) 45247.30 97580 125100 51200 84200 146000

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) -19.40 -12 -14 -10 -7 -8
Retail Sales MoM (%) 10.10 0.5 0.4 -0.4 0.5 0.5
Retail Sales YoY (%) -8.60 -2 -2.6 6.5 7.8 4.2
Consumer Spending (PLN Million) 329567.60 313880 294775 324295 355603 306566
Personal Savings (%) 12.81 6.5 15.1 -2 7.2 14.2
Consumer Credit (PLN Million) 778449.34 749548 734350 771710 839947 763724
Gasoline Prices (USD/Liter) 1.05 1 0.95 0.9 0.86 0.81
Households Debt To Income (%) 59.65 68 68 65 65 65

Housing Actual Q3 Q4 Q1 Q2 2021
Construction Output (%) -0.80 -6.2 -3.2 1 12.6 4.5
Housing Index (points) 127.06 112 115 119 122 125
Building Permits 37103.00 65100 82200 36200 38700 94200


This page has economic forecasts for Poland including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Poland economy.