Poland’s gross domestic product advanced by 3.6% year-on-year in the third quarter of 2022, easing from an upwardly revised 5.8% expansion in the previous three-month period and slightly above a preliminary estimate of 3.5%. This was the seventh consecutive quarter of expansion but at the weakest pace since the first quarter of 2021, as total consumption eased markedly (0.7% vs 4.8% in Q2), mostly due to weak expenditure of households (0.9% vs 6.4%). Also, gross capital formation grew slightly less (11.4% vs 15.1%), hampered by fixed investment (2% vs 6.6%). Meanwhile, net foreign demand contributed positively to the GDP, as exports (6.9% vs 5.2% in Q2) grew faster than imports (6% vs 6.9%). On a seasonally adjusted quarter-on-quarter basis, the GDP rebounded and grew 1% in Q3, swinging from the previous quarter's revised 2.3% contraction and better than an earlier reading of 0.9%. source: Central Statistical Office of Poland (GUS)

GDP Annual Growth Rate in Poland averaged 4.12 percent from 1995 until 2022, reaching an all time high of 12.20 percent in the second quarter of 2021 and a record low of -7.80 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 December of 2022.

GDP Annual Growth Rate in Poland is expected to be 1.50 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 4.00 percent in 2023 and 3.50 percent in 2024, according to our econometric models.

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Poland GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-11-15 09:00 AM YoY Prel Q3 3.5% 5.5% 3.3% 2.6%
2022-11-30 09:00 AM YoY Final Q3 3.6% 5.8% 3.5%


Related Last Previous Unit Reference
GDP Growth Rate 1.00 -2.30 percent Sep 2022
GDP Annual Growth Rate 3.60 5.80 percent Sep 2022
GDP Constant Prices 685404.50 657755.40 PLN Million Sep 2022
Gross Fixed Capital Formation 113262.60 103934.10 PLN Million Sep 2022
Full Year GDP Growth 5.70 -2.50 percent Dec 2021
GDP from Manufacturing 99601.10 113711.00 PLN Million Jun 2022
GDP from Construction 43252.30 26977.20 PLN Million Jun 2022
GDP from Agriculture 15018.90 16081.90 PLN Million Jun 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
3.60 5.80 12.20 -7.80 1995 - 2022 percent Quarterly
NSA

News Stream
Poland Q3 GDP Growth at Over 1-1/2-Year Low
Poland’s gross domestic product advanced by 3.6% year-on-year in the third quarter of 2022, easing from an upwardly revised 5.8% expansion in the previous three-month period and slightly above a preliminary estimate of 3.5%. This was the seventh consecutive quarter of expansion but at the weakest pace since the first quarter of 2021, as total consumption eased markedly (0.7% vs 4.8% in Q2), mostly due to weak expenditure of households (0.9% vs 6.4%). Also, gross capital formation grew slightly less (11.4% vs 15.1%), hampered by fixed investment (2% vs 6.6%). Meanwhile, net foreign demand contributed positively to the GDP, as exports (6.9% vs 5.2% in Q2) grew faster than imports (6% vs 6.9%). On a seasonally adjusted quarter-on-quarter basis, the GDP rebounded and grew 1% in Q3, swinging from the previous quarter's revised 2.3% contraction and better than an earlier reading of 0.9%.
2022-11-30
Polish Economy Grows The Least in 6 Quarters
Poland’s gross domestic product expanded by 3.5% year-on-year in the third quarter of 2022, the least since the first quarter of 2021 but surpassing market expectations of 3.3%. The slowdown in growth is a reflection of worsening consumer demand and a drop in investment due to the high level of inflation and rising interest rates. In October, the annual inflation rate hit 17.9%, the highest since August 1996, but the central bank NBP chose to pause its tightening cycle in the last two decisions to address growth concerns. On a seasonally adjusted quarterly basis, the GDP expanded by 0.9%, rebounding from the 3.2% contraction from the second quarter.
2022-11-15
Poland GDP Growth Revised Higher
Poland’s gross domestic product advanced 5.5 percent year-on-year in the second quarter of 2022, easing from the 8.5 percent expansion in the previous three-month period and higher than preliminary estimates of 5.3 percent. The continued increase in gross capital formation (16.7 percent vs 57.3 percent in Q1) contributed the most to Polish growth, followed by further expansion in final consumption expenditure (4.9 percent vs 5.1 percent), mostly due to strong expenditure for households. Meanwhile, net foreign demand contributed negatively to the GDP, subtracting 1.2 percentage points from the final reading as imports grew faster than exports. On a seasonally adjusted quarterly basis, the GDP contracted by 2.1 percent, easing from preliminary estimates of a 2.3 percent loss and compared to the 2.5 percent expansion in the first quarter.
2022-08-31