The economy of Poland expanded by 11.1 percent year-on-year in the second quarter of 2021, rebounding from a 0.9 percent contraction in the previous period and slightly faster than preliminary estimates of a 10.9 percent expansion. It was the strongest pace of economic growth on record as well as the first expansion since the first quarter of 2020, underpinned by a significant increase in consumer spending (7.4 percent vs 0.1 percent). Positive contributions also came from gross fixed capital formation (0.8 percent vs 0.2 percent) and changes in inventories (2.9 percent vs 0.3 percent), as well as public spending (0.7 percent vs 0.4 percent). On the other hand, net external demand lagged behind, remaining in the downside for a second quarter in a row (-0.7 percent vs -1.9 percent). On a seasonally adjusted quarterly basis, economic growth was revised higher to 2.1 percent from a preliminary estimate of 1.9 percent, gaining momentum from a 1.3 percent advance in the previous period. source: Central Statistical Office of Poland (GUS)
GDP Annual Growth Rate in Poland averaged 3.95 percent from 1995 until 2021, reaching an all time high of 10.90 percent in the second quarter of 2021 and a record low of -8.30 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 October of 2021.
GDP Annual Growth Rate in Poland is expected to be 5.20 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 3.70 percent in 2022 and 3.50 percent in 2023, according to our econometric models.