Poland's gross domestic product shrank 2.8 percent in 2020, compared to a 4.5 percent expansion in 2019 and in line with market expectations. It was the first annual economic contraction since 1996, as the pandemic crisis hampered household consumption (-3 percent vs 4 percent in 2019) and fixed investment (-8.4 percent vs 7.2 percent). On the production side, output decreased for industry (-0.2 percent vs 4.3 percent), construction (-3.7 percent vs -4.1 percent) and trade, repair of motor vehicles (-4 percent vs 5.4 percent). Data from last November showed the economy shrank 1.5 percent in the third quarter of 2020, easing from a 8.4 percent contraction in the previous three-month period. source: Central Statistical Office of Poland (GUS)
GDP Annual Growth Rate in Poland averaged 4.02 percent from 1995 until 2020, reaching an all time high of 8.10 percent in the fourth quarter of 1996 and a record low of -8.40 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 February of 2021.
GDP Annual Growth Rate in Poland is expected to be -1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Poland to stand at 3.70 in 12 months time. In the long-term, the Poland GDP Annual Growth Rate is projected to trend around 2.50 percent in 2022, according to our econometric models.