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.

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Poland GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-05-14 08:00 AM YoY Prel Q1 -1.2% -2.7% -1.3% -0.8%
2021-05-31 08:00 AM YoY Final Q1 -0.9% -2.7% -1.2% -1.2%
2021-08-13 08:00 AM YoY Prel Q2 10.9% -0.9% 11% 8.3%
2021-08-31 08:00 AM YoY Final Q2 11.1% -0.9% 10.9%
2021-11-12 09:00 AM YoY Prel Q3 11.1% 5.2%
2021-11-30 09:00 AM YoY Final Q3 11.1%


News Stream
Polish Economic Growth Revised Higher in Q2
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.
2021-08-31
Polish GDP Rebounds 10.9% in Q2
Poland's gross domestic product advanced 10.9 percent year-on-year in the second quarter of 2021, recovering from a 0.9 percent contraction in the previous three-month period and broadly in line with market expectations of an 11 percent expansion, a preliminary estimate showed. That was the first growth in four quarters. On a seasonally adjusted quarterly basis, the GDP rose by 1.9 percent, following an upwardly revised 1.3 percent growth in the previous period.
2021-08-13
Poland Q1 GDP Contracts Less than Initially Thought
Poland's gross domestic product shrank 0.9 percent from a year earlier in the first quarter of 2021, following a 2.7 percent contraction in the previous three-month period and compared with an earlier estimate of a 1.2 percent fall. It was the fourth consecutive quarter of economic downturn, although at the softest pace in the current sequence. Household consumption rose 0.2 percent, after decreasing 3.2 percent in Q4 and gross fixed capital formation increased 1.3 percent, following a 15.4 percent slump in the previous period. Changes in inventories had a positive contribution (+0.3 percentage points vs +1.3 percentage points in Q4), while a negative impact of the net exports to the economic growth was noted ( -1.9 percentage points vs +0.1 percentage points in Q4). On a seasonally adjusted quarterly basis, the GDP rose by 1.1 percent, following a 0.5 percent drop in the previous period and compared with a preliminary reading of a 0.9 percent growth.
2021-05-31
Poland Economy Contracts for 4th Straight Quarter
Poland's gross domestic product shrank 1.2 percent year-on-year in the first quarter of 2021, easing from a downwardly revised 2.7 percent drop in the previous three-month period and broadly in line with market expectations of a 1.3 percent fall, a preliminary estimate showed. That was the fourth consecutive period of contraction, as activity and demand were hit by coronavirus-induced restrictive measures. On a seasonally adjusted quarterly basis, the GDP rose by 0.9 percent, following a revised 0.5 percent decline in the previous period.
2021-05-14

Poland Last Unit Reference Previous Highest Lowest
GDP Growth Rate 2.10 percent Jun/21 1.30 7.70 -9.20
GDP Annual Growth Rate 11.10 percent Jun/21 -0.90 11.10 -8.30
GDP Constant Prices 591344.50 PLN Million Jun/21 559258.70 619630.70 85442.90
Gross Fixed Capital Formation 19838.90 PLN Million Jun/21 72883.90 155755.10 11831.80
GDP From Manufacturing 91107.70 PLN Million Jun/21 101533.00 125400.80 14962.40
GDP From Construction 41418.40 PLN Million Jun/21 23190.10 43817.20 5400.20
GDP From Agriculture 13744.10 PLN Million Jun/21 14032.30 14032.30 3333.80


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.