Markets Actual Q1 Q2 Q3 Q4 2022
Currency 3.85 3.84 3.86 3.88 3.9 3.94
Stock Market (points) 57643.55 56631 55422 54235 53072 50746
Government Bond 10Y (%) 1.61 1.65 1.71 1.77 1.83 1.96

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) -0.70 -0.6 2.1 3.2 1.1 0.6
GDP Annual Growth Rate (%) -2.80 -1.2 7.9 4.1 3.7 2.5
Unemployment Rate (%) 6.50 7 7.1 6.8 6.6 6.1
Inflation Rate (%) 2.70 2.2 2 1.8 1.6 1.9
Inflation Rate Mom (%) 1.20 0.5 0.4 0.3 0.5 0.4
Interest Rate (%) 0.10 0.1 0.1 0.1 0.1 0.5
Balance of Trade (EUR Million) 333.00 300 -800 600 300 300
Current Account (EUR Million) 430.00 360 -220 540 280 300
Current Account to GDP (%) 0.50 0.9 0.9 0.9 0.9 0.5
Government Debt to GDP (%) 46.00 57 57 57 57 54.5
Government Budget (% of GDP) -0.70 -4.4 -4.4 -4.4 -4.4 -1.8
Business Confidence (points) -8.30 -7.4 -6.2 -4.3 -7 -3
Manufacturing PMI (points) 53.40 54 54 53.4 52.5 53
Consumer Confidence (points) -25.20 -10 -7 -9 -8 -4
Retail Sales MoM (%) -0.20 -0.4 0.5 -1 0.5 0.3
Corporate Tax Rate (%) 19.00 19 19 19 19 19
Personal Income Tax Rate (%) 32.00 32 32 32 32 32

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) -0.70 -0.6 2.1 3.2 1.1 0.6
GDP Annual Growth Rate (%) -2.80 -1.2 7.9 4.1 3.7 2.5
GDP (USD Billion) 592.16 550 550 550 550 625
GDP Constant Prices (PLN Million) 618643.90 531924 544969 578470 576247 590653
Gross Fixed Capital Formation (PLN Million) 143509.10 69870 88711 94935 94570 96935
GDP per capita (USD) 17386.90 15900 15900 15900 15900 16800
GDP per capita PPP (USD) 33086.40 32400 32400 32400 32400 33600

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 6.50 7 7.1 6.8 6.6 6.1
Long Term Unemployment Rate (%) 0.60 1.8 2 1.7 1.6 1
Youth Unemployment Rate (%) 14.30 12 12.1 11.8 11.6 11.6
Labour Costs (points) 120.20 126 131 129 129 131
Wages (PLN/Month) 5456.81 5497 5125 5246 5241 5336
Wages in Manufacturing (PLN/Month) 5313.92 5376 5124 5291 5642 5743
Wage Growth (%) 4.80 3.1 2 1.5 1.4 1.8
Minimum Wages (EUR/Month) 614.08 614 614 614 614 640
Population (Million) 37.97 38.01 38.01 38.01 38.01 38.02
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 65.00 65 65 65 65 65
Labor Force Participation Rate (%) 56.40 54.5 55.9 55.5 55.4 55.9
Employment Change (%) -2.00 0.5 2.5 2.4 3.8 2.4
Employment Rate (%) 69.00 65.6 66 66.5 67 67.7

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 2.70 2.2 2 1.8 1.6 1.9
Inflation Rate Mom (%) 1.20 0.5 0.4 0.3 0.5 0.4
Consumer Price Index CPI (points) 187.50 188 189 188 188 192
Core Inflation Rate (%) 3.70 2.7 1.8 1.9 2.1 2
GDP Deflator (points) 112.03 111 113 114 114 116
Producer Prices (points) 106.80 106 106 107 107 109
Producer Prices Change (%) 0.70 0.2 0.8 1.3 1.2 1.8
Food Inflation (%) 0.80 1.4 1.5 1.6 1.9 2
Harmonised Consumer Prices (points) 109.80 110 111 111 112 114

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 0.10 0.1 0.1 0.1 0.1 0.5
Interbank Rate (%) 0.11 0.11 0.11 0.11 0.11 0.11
Foreign Exchange Reserves (USD Million) 163448.80 136000 129000 132000 136000 142000
Deposit Interest Rate (%) 0.00 0 0 0 0 0
Private Debt to GDP (%) 120.60 126 126 126 126 118
Cash Reserve Ratio (%) 0.50 0.5 0.5 0.5 0.5 0.5

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (EUR Million) 333.00 300 -800 600 300 300
Current Account (EUR Million) 430.00 360 -220 540 280 300
Current Account to GDP (%) 0.50 0.9 0.9 0.9 0.9 0.5
Imports (EUR Million) 19481.00 17000 17900 18900 16500 20100
Exports (EUR Million) 19814.00 16200 18500 19100 17500 19800
Foreign Direct Investment (EUR Million) 209504.80 196900 196900 196900 196900 201500

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 46.00 57 57 57 57 54.5
Government Budget (% of GDP) -0.70 -4.4 -4.4 -4.4 -4.4 -1.8
Government Budget Value (PLN Million) 6645.40 -11600 -90600 -8600 -7600 -7600
Government Spending (PLN Million) 131004.90 99219 112298 112423 111991 114791
Government Spending to GDP (%) 42.00 44 44 44 44 44
Government Revenues (PLN Million) 40656.00 102000 177500 218200 369000 369000
Government Debt (PLN Million) 1097460.24 1212000 1245000 1222000 1191000 1191000
Fiscal Expenditure (PLN Million) 34010.60 110600 205500 324400 450600 440200

Taxes Actual Q1 Q2 Q3 Q4 2022
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 36.12 35.85 35.85 36.12 36.12
Social Security Rate For Companies (%) 22.14 22.41 22.14 22.14 22.41 22.41
Social Security Rate For Employees (%) 13.71 13.71 13.71 13.71 13.71 13.71

Business Actual Q1 Q2 Q3 Q4 2022
Business Confidence (points) -8.30 -7.4 -6.2 -4.3 -7 -3
Manufacturing PMI (points) 53.40 54 54 53.4 52.5 53
Industrial Production (%) 0.90 4.3 8.5 3.6 4.5 4.5
Industrial Production Mom (%) 1.60 -1 0.8 -1.2 0.5 0.5
Manufacturing Production (%) 0.80 7 9.6 3.8 5 5
Car Production (Thousand Units) 18.00 25 29 38 32 32
Car Registrations 32262.00 44900 36400 45100 52400 59400
Corporate Profits (PLN Million) 91344.10 51200 84200 125900 146000 175000

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) -25.20 -10 -7 -9 -8 -4
Retail Sales MoM (%) -0.20 -0.4 0.5 -1 0.5 0.3
Retail Sales YoY (%) -6.00 6.5 7.8 2.3 4.2 4.2
Consumer Spending (PLN Million) 307464.00 325613 303152 409394 407821 418017
Personal Savings (%) 5.37 -2 7.2 6.2 14.2 14
Consumer Credit (PLN Million) 787901.97 774847 841262 818513 818274 838731
Gasoline Prices (USD/Liter) 1.31 1.2 1.14 1.08 1.03 0.97
Households Debt To Income (%) 57.67 65 65 65 65 61

Housing Actual Q1 Q2 Q3 Q4 2022
Construction Output (%) -6.00 1 12.6 5.9 4.5 2.6
Housing Index (points) 137.06 119 122 124 125 125
Building Permits 8259.00 36200 38700 73200 94200 106200


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.