Poland GDP Annual Growth Rate

Last Release

Dec 31, 2023

Actual

Units In

0.5

Frequency

Quarterly

Next Release

Jun 03, 2024

Time to Release

3 Months 2 Days 7 Hours

Highest	Lowest	Average	Date Range	Source
11.2 Jun 2021	-8.2 Jun 2020	3.91 %	1995-2023	Central Statistical Office of Poland (GUS)

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.

Latest Updates

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.