Markets Actual Q1 Q2 Q3 Q4 2020
Currency 3.93 3.89 3.91 3.93 3.95 3.99
Stock Market (points) 58080.88 56086 55497 54913 54340 53195
Government Bond 10Y (%) 2.21 2.2 2.27 2.34 2.42 2.57
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 0.20 0.8 0.7 0.6 0.7 0.8
GDP Annual Growth Rate (%) 3.10 3.7 3.4 3.2 3 3.4
Unemployment Rate (%) 5.20 5.5 5.7 5.4 5.9 6.2
Inflation Rate (%) 4.40 2.3 2.1 2.2 1.9 2
Inflation Rate Mom (%) 0.90 0.4 0.3 0.4 0.4 0.3
Interest Rate (%) 1.50 1.5 1.5 1.5 1.5 1.5
Balance of Trade (EUR Million) 224.00 400 600 -730 300 300
Current Account (EUR Million) 990.00 -320 -520 320 220 280
Current Account to GDP (%) -1.00 -0.6 -0.6 -0.6 -0.6 -0.3
Government Debt to GDP (%) 48.90 45 45 45 45 44
Government Budget (% of GDP) -0.20 -0.3 -0.3 -0.3 -0.3 -0.7
Business Confidence (points) 3.20 4 4.5 4.1 2.5 1
Manufacturing PMI (points) 47.40 50.1 52.2 52.9 53 54
Consumer Confidence (points) 3.70 7.2 5.1 5.6 4 3.7
Retail Sales MoM (%) -2.20 0.3 -0.6 0.5 0.4 0.4
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 2020
GDP Growth Rate (%) 0.20 0.8 0.7 0.6 0.7 0.8
GDP Annual Growth Rate (%) 3.10 3.7 3.4 3.2 3 3.4
GDP (USD Billion) 585.78 645 645 645 645 688
GDP Constant Prices (PLN Million) 544165.00 518823 537253 549971 560490 579547
Gross Fixed Capital Formation (PLN Million) 97656.70 69151 91112 98699 100586 104006
GDP per capita (USD) 16639.70 17200 17200 17200 17200 17700
GDP per capita PPP (USD) 28751.60 30300 30300 30300 30300 31200
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 5.20 5.5 5.7 5.4 5.9 6.2
Youth Unemployment Rate (%) 9.20 9.2 9.2 9.2 9.2 9.2
Labour Costs (points) 119.40 116 122 124 123 127
Wages (PLN/Month) 5197.86 5243 5042 5114 5089 5262
Wages in Manufacturing (PLN/Month) 5146.07 5179 5129 5091 5311 5491
Wage Growth (%) 6.20 4.6 4.2 3.7 3.2 3.4
Minimum Wages (EUR/Month) 523.09 575 575 575 575 615
Population (Million) 37.98 38 38 38 38 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 (%) 56.70 56.4 56.4 56.4 56.6 56.5
Employment Change (%) 2.60 2.4 2.2 2.3 2 2.1
Employment Rate (%) 68.90 66.9 66.9 66.9 66.8 67
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 4.40 2.3 2.1 2.2 1.9 2
Inflation Rate Mom (%) 0.90 0.4 0.3 0.4 0.4 0.3
Consumer Price Index CPI (points) 182.70 180 183 183 185 188
Core Consumer Prices (points) 103.11 102 102 102 102 102
Core Inflation Rate (%) 3.10 2.3 2.4 2.2 2.4 2.4
GDP Deflator (points) 106.45 107 108 109 108 111
Producer Prices (points) 106.00 106 107 109 108 111
Producer Prices Change (%) 1.00 0.5 1.4 1.7 2.2 2.3
Food Inflation (%) 6.70 3.6 2.1 2.2 2.5 2.4
Harmonised Consumer Prices (points) 106.20 106 107 108 108 110
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 1.50 1.5 1.5 1.5 1.5 1.5
Interbank Rate (%) 1.61 1.61 1.61 1.61 1.61 1.61
Foreign Exchange Reserves (USD Million) 125457.10 132000 136000 134000 132000 140000
Deposit Interest Rate (%) 0.50 0.5 0.5 0.5 0.5 0.5
Private Debt to GDP (%) 120.60 111 111 111 111 109
Cash Reserve Ratio (%) 3.50 3.5 3.5 3.5 3.5 3.5
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (EUR Million) 224.00 400 600 -730 300 300
Current Account (EUR Million) 990.00 -320 -520 320 220 280
Current Account to GDP (%) -1.00 -0.6 -0.6 -0.6 -0.6 -0.3
Imports (EUR Million) 16996.00 19000 18100 19150 16900 17500
Exports (EUR Million) 17220.00 19400 18700 18420 17200 17800
Terms of Trade (points) 102.10 102 100 100 101 101
Foreign Direct Investment (EUR Million) 199789.70 212300 212300 212300 212300 216900
Weapons Sales (USD Million) 21.00 5 5 5 5 5
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 48.90 45 45 45 45 44
Government Budget (% of GDP) -0.20 -0.3 -0.3 -0.3 -0.3 -0.7
Government Budget Value (PLN Million) -1882.20 -2100 -2100 -2100 -11600 -7600
Government Spending (PLN Million) 98791.10 93479 96780 99845 101755 105214
Government Spending to GDP (%) 41.50 42.2 42.2 42.2 42.2 42
Government Revenues (PLN Million) 367107.60 92400 92400 92400 367000 379000
Government Debt (PLN Million) 962010.84 1015000 1095000 1105000 1112000 1152000
Fiscal Expenditure (PLN Million) 368989.80 94500 94500 94500 378600 386600
Taxes Actual Q1 Q2 Q3 Q4 2020
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 (%) 44.69 44.69 44.69 44.69 44.69 44.69
Social Security Rate For Companies (%) 21.98 21.98 21.98 21.98 21.98 21.98
Social Security Rate For Employees (%) 22.71 22.71 22.71 22.71 22.71 22.71
Business Actual Q1 Q2 Q3 Q4 2020
Business Confidence (points) 3.20 4 4.5 4.1 2.5 1
Manufacturing PMI (points) 47.40 50.1 52.2 52.9 53 54
Industrial Production (%) 3.80 1.4 1.1 1.6 1.9 2.6
Industrial Production Mom (%) -3.00 0.6 0.4 -0.7 0.4 0.4
Manufacturing Production (%) 0.20 1.2 0.9 1.5 2 2.8
Car Production (Thousand Units) 29.50 46 42 40 32 37
Car Registrations 52499.00 52900 41500 36600 53900 56400
Corporate Profits (PLN Million) 133466.20 55400 55400 55400 179000 185000
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Confidence (points) 3.70 7.2 5.1 5.6 4 3.7
Retail Sales MoM (%) -2.20 0.3 -0.6 0.5 0.4 0.4
Retail Sales YoY (%) 7.50 3.6 3 3.4 2.5 2.8
Consumer Spending (PLN Million) 320504.80 325786 314533 323925 330120 341344
Personal Savings (%) -8.99 -7 -7 -7 15.7 15.4
Consumer Credit (PLN Million) 766545.20 742514 755626 773535 789542 816386
Gasoline Prices (USD/Liter) 1.29 1.15 1.18 1.21 1.25 1.25
Households Debt To Income (%) 59.65 56 56 56 56 56
Housing Actual Q1 Q2 Q3 Q4 2020
Construction Output (%) -0.30 -2.8 0.9 1.5 3.2 3.6
Housing Index (points) 123.59 119 120 122 124 128
Building Permits 96777.00 24800 55600 85100 105200 112200
Home Ownership Rate (%) 84.00 82.5 82.5 82.5 82.5 82.5


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.