Markets Actual Q4 Q1 Q2 Q3 2021
Currency 3.94 3.92 3.94 3.96 3.98 4.02
Stock Market (points) 45008.30 46188 45202 44234 43286 41388
Government Bond 10Y (%) 1.16 1.22 1.26 1.31 1.35 1.45

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -8.90 2 1.5 1.1 0.7 0.8
GDP Annual Growth Rate (%) -8.20 -3 -1.6 7.9 4.1 3.7
Unemployment Rate (%) 6.10 6.5 7 7.1 6.8 6.6
Inflation Rate (%) 3.20 2.1 1.6 1.7 1.5 1.6
Inflation Rate Mom (%) 0.20 0.3 0.3 0.4 0.3 0.5
Interest Rate (%) 0.10 0.1 0.1 0.1 0.1 0.1
Balance of Trade (EUR Million) 735.00 300 -300 -800 600 300
Current Account (EUR Million) 947.00 510 360 -220 540 280
Current Account to GDP (%) 0.50 0.6 0.9 0.9 0.9 0.9
Government Debt to GDP (%) 46.00 58 57 57 57 57
Government Budget (% of GDP) -0.70 -8.2 -4.4 -4.4 -4.4 -4.4
Business Confidence (points) -9.70 -12 -7.4 -6.2 -4.3 -7
Manufacturing PMI (points) 50.80 50.8 52 54 53.4 52.5
Consumer Confidence (points) -20.00 -14 -10 -7 -9 -8
Retail Sales MoM (%) 1.80 0.4 -0.4 0.5 -1 0.5
Corporate Tax Rate (%) 19.00 19 19 19 19 19
Personal Income Tax Rate (%) 32.00 32 32 32 32 32

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -8.90 2 1.5 1.1 0.7 0.8
GDP Annual Growth Rate (%) -8.20 -3 -1.6 7.9 4.1 3.7
GDP (USD Billion) 592.16 490 550 550 550 550
GDP Constant Prices (PLN Million) 505068.60 623461 596438 529771 544969 641542
Gross Fixed Capital Formation (PLN Million) 82216.00 154061 151403 69587 88711 158529
GDP per capita (USD) 17386.90 15500 15900 15900 15900 15900
GDP per capita PPP (USD) 33086.40 31200 32400 32400 32400 32400

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 6.10 6.5 7 7.1 6.8 6.6
Long Term Unemployment Rate (%) 0.60 1.5 1.8 2 1.7 1.6
Youth Unemployment Rate (%) 9.10 11.5 9.6 10.1 10.2 11.8
Labour Costs (points) 128.80 107 122 130 131 108
Wages (PLN/Month) 5024.48 5079 5321 5065 5100 5150
Wages in Manufacturing (PLN/Month) 5212.93 5028 5204 5063 5208 5098
Wage Growth (%) 5.60 -2.3 -0.2 0.8 1.5 1.4
Minimum Wages (EUR/Month) 610.79 611 630 630 630 630
Population (Million) 37.97 38 38.01 38.01 38.01 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 (%) 55.50 54.5 54.5 55.9 55.5 55.4
Employment Change (%) -1.20 -1 0.5 2.5 2.4 3.8
Employment Rate (%) 67.90 64.9 65.6 66 66.5 67

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) 3.20 2.1 1.6 1.7 1.5 1.6
Inflation Rate Mom (%) 0.20 0.3 0.3 0.4 0.3 0.5
Consumer Price Index CPI (points) 184.70 185 187 188 187 188
Core Inflation Rate (%) 4.30 3.2 2.4 1.8 1.9 2.1
GDP Deflator (points) 109.51 110 111 111 111 112
Producer Prices (points) 105.10 110 105 106 106 112
Producer Prices Change (%) -1.60 -1 0.2 0.8 1.3 1.2
Food Inflation (%) 2.80 1.8 1.4 1.5 1.6 1.9
Harmonised Consumer Prices (points) 109.20 108 109 111 111 110

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 0.10 0.1 0.1 0.1 0.1 0.1
Interbank Rate (%) 0.12 1.87 0.12 0.12 0.12 2.37
Foreign Exchange Reserves (USD Million) 139496.00 132000 136000 129000 132000 136000
Deposit Interest Rate (%) 0.00 0.75 0 0 0 1.25
Private Debt to GDP (%) 120.60 134 126 126 126 126
Cash Reserve Ratio (%) 0.50 0.5 0.5 0.5 0.5 0.5

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (EUR Million) 735.00 300 -300 -800 600 300
Current Account (EUR Million) 947.00 510 360 -220 540 280
Current Account to GDP (%) 0.50 0.6 0.9 0.9 0.9 0.9
Imports (EUR Million) 16995.00 15500 17000 17900 18900 16500
Exports (EUR Million) 17730.00 15200 16200 18500 19100 17500
Foreign Direct Investment (EUR Million) 209504.80 195100 196900 196900 196900 196900

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 46.00 58 57 57 57 57
Government Budget (% of GDP) -0.70 -8.2 -4.4 -4.4 -4.4 -4.4
Government Budget Value (PLN Million) -13763.00 -11600 -90600 -8600 -28000 -7600
Government Spending (PLN Million) 104076.20 120440 117094 98817 112298 123933
Government Spending to GDP (%) 42.00 50 44 44 44 44
Government Revenues (PLN Million) 304503.30 365000 102000 177500 218200 369000
Government Debt (PLN Million) 1091384.89 1202000 1212000 1245000 1222000 1191000
Fiscal Expenditure (PLN Million) 318266.30 455600 110600 205500 324400 450600

Taxes Actual Q4 Q1 Q2 Q3 2021
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 35.85 36.12
Social Security Rate For Companies (%) 22.14 22.41 22.14 22.14 22.14 22.41
Social Security Rate For Employees (%) 13.71 13.71 13.71 13.71 13.71 13.71

Business Actual Q4 Q1 Q2 Q3 2021
Business Confidence (points) -9.70 -12 -7.4 -6.2 -4.3 -7
Manufacturing PMI (points) 50.80 50.8 52 54 53.4 52.5
Industrial Production (%) 5.90 -3.2 -1 8.5 3.6 4.5
Industrial Production Mom (%) 0.50 -1 -1 0.8 -1.2 0.5
Manufacturing Production (%) 7.20 -3.6 -1.2 9.6 3.8 5
Car Production (Thousand Units) 31.10 21 25 29 38 32
Car Registrations 38147.00 45900 44900 36400 45100 52400
Corporate Profits (PLN Million) 91344.10 125100 51200 84200 125900 146000

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Confidence (points) -20.00 -14 -10 -7 -9 -8
Retail Sales MoM (%) 1.80 0.4 -0.4 0.5 -1 0.5
Retail Sales YoY (%) 2.70 -2.6 6.5 7.8 2.3 4.2
Consumer Spending (PLN Million) 280956.10 311875 298467 324295 303152 320919
Personal Savings (%) 0.19 15.1 -2 7.2 6.2 14.2
Consumer Credit (PLN Million) 786275.42 767505 743549 771710 841262 789762
Gasoline Prices (USD/Liter) 1.17 1.15 1.06 1 0.95 1.09
Households Debt To Income (%) 59.65 68 65 65 65 65

Housing Actual Q4 Q1 Q2 Q3 2021
Construction Output (%) -12.10 -3.2 1 12.6 5.9 4.5
Housing Index (points) 134.31 115 119 122 124 125
Building Permits 75042.00 82200 36200 38700 73200 94200


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.