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.

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Poland GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-1.50 -8.40 8.10 -8.40 1995 - 2020 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-08-31 08:00 AM YoY Final Q2 -8.2% 2% -8.2%
2020-11-13 09:00 AM YoY Prel Q3 -1.6% -8.2% -1.7% -2.6%
2020-11-30 09:00 AM YoY Final Q3 -1.5% -8.4% -1.6% -1.6%
2021-01-29 09:00 AM Full Year GDP Growth 2020 -2.8% 4.5% -2.8% -3%
2021-02-12 09:00 AM YoY Prel Q4 -1.5% -2.5%
2021-02-26 09:00 AM YoY Final Q4 -1.5% -2.5%
2021-05-14 08:00 AM YoY Prel Q1
2021-05-31 08:00 AM YoY Final Q1


News Stream
Poland GDP Contracts 2.8% in 2020
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.
2021-01-29
Poland Q3 GDP Contraction Revised Lower
Poland's gross domestic product shrank by 1.5 percent year-on-year in the third quarter of 2020, compared with an initial estimate of a 1.6 percent contraction and following a historic slump of 8.4 percent in the previous three-month period. Household consumption rose 0.4 percent, rebounding from a 10.8 percent drop in the second quarter, while fixed investment tumbled 9.0 percent, compared to a 10.7 percent slump. Changes in inventories had also a negative contribution (-2.3 percentage points vs -2.0 percentage points in Q2), while a positive impact of the net exports to the economic growth was noted (+1.7 percentage points vs +1.1 percentage points in Q2). On a quarterly basis, Poland's GDP grew by 7.9 percent, partially recovering from a 9.0 percent contraction in the previous period.
2020-11-30
Poland Q3 GDP Contracts Less than Expected
Poland's gross domestic product shrank by 1.6 percent from a year earlier in the third quarter of 2020, following a record 8.2 percent contraction in the previous period and compared to market expectations of a 1.7 percent drop, preliminary estimates showed. Poland's economy has been battered by the Covid-19 and the introduction of government measures to prevent the consequences of the pandemic. On a seasonally adjusted quarterly basis, the economy advanced 7.7 percent, the most on record and rebounding from a 8.9 percent slump in Q2.
2020-11-13
Polish Economy Contracts at Record Pace
Poland's gross domestic product shrank by 8.2 percent from a year earlier in the second quarter of 2020, the biggest pace of contraction on record, as restriction measures imposed to curb the spread of the coronavirus hit activity and demand. Household consumption tumbled 6.3 percent and fixed investment dropped 1.8 percent, while government spending grew by 0.8 percent for the second consecutive period. Net external demand contributed positively to the GDP as imports fell more than exports. On a quarterly basis, the economy shrank by a record 8.9 percent, entering a recession.
2020-08-31

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.