Economic Growth in Poland
Poland's economy recorded an average growth rate of 3.7% in the decade to 2022, above the 2.5% average for Eastern Europe. In 2022, the real GDP growth was 5.4%. For more GDP information, visit our dedicated page.
Poland GDP Chart
Poland GDP Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Economic Growth (GDP, ann. var. %) | 6.0 | 4.5 | -2.0 | 6.9 | 5.4 |
GDP (USD bn) | 589 | 596 | 600 | 681 | 688 |
GDP (EUR bn) | 499 | 533 | 526 | 576 | 654 |
GDP (PLN bn) | 2,127 | 2,288 | 2,338 | 2,631 | 3,067 |
Economic Growth (Nominal GDP, ann. var. %) | 7.2 | 7.6 | 2.1 | 12.6 | 16.6 |
Economic growth strengthens in Q4
According to a flash release, the economy grew 1.7% on an annual basis in the fourth quarter, which was an improvement from the third quarter's 0.3% increase. On a seasonally adjusted quarter-on-quarter basis, GDP flatlined, decelerating from the previous quarter's 1.1% increase. A detailed breakdown will be released on 29 February.
The economy should gain traction in 2024 from last year. Easing inflation and interest rates and a rebound in industrial output spurred by stronger demand from the Eurozone will underpin activity. The faster-than-expected disbursement of EU funds poses an upside risk. Additional spillover from the Russia-Ukraine war is a downside risk.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Polish GDP projections for the next ten years from a panel of 37 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Polish GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Polish GDP projections.
Want to get access to the full dataset of Polish GDP forecasts? Send an email to info@focus-economics.com.
Latest Global GDP News
-
According to a preliminary estimate, GDP growth picked up to 1.3% on a seasonally adjusted quarter-on-quarter basis in the first...
-
China: Economy records quickest expansion since Q2 2023 in the first quarter
GDP growth picked up to 5.3% year on year in the first quarter of 2024, above the 5.2% in the... -
Singapore: Economy records best year-on-year growth reading since Q3 2022 in Q1 2024
According to a flash release, GDP growth accelerated to 2.7% year on year in the first quarter of 2024, from... -
Guatemala: GDP grows at the slowest clip in over three years in Q4
GDP growth halved to 2.0% year on year at the tail-end of 2023 from an upwardly revised 4.0% in the... -
United Kingdom: Economic activity growth loses pace in February
GDP rose 0.1% month-on-month in seasonally adjusted terms in February (January: +0.3% mom), matching market expectations. On a rolling quarterly... -
Norway: Economic activity set back in February
The Norwegian economy stumbled halfway through the first quarter; total GDP contracted 0.9% in seasonally adjusted month-on-month terms in February,... -
Russia: Economy loses momentum in Q4
Growth lost steam at the tail end of 2023, with GDP increasing 4.9% on an annual basis in the fourth...