The Gross Domestic Product (GDP) in Poland expanded 1.30 percent in the third quarter of 2019 over the previous quarter. GDP Growth Rate in Poland averaged 1.02 percent from 1995 until 2019, reaching an all time high of 6.10 percent in the first quarter of 1997 and a record low of -3.10 percent in the fourth quarter of 1996. source: Central Statistical Office of Poland (GUS)
GDP Growth Rate in Poland is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Poland to stand at 0.60 in 12 months time. In the long-term, the Poland GDP Growth Rate is projected to trend around 0.80 percent in 2020, according to our econometric models.
Poland GDP Growth Rate
Poland is the 8th biggest economy in the European Union, yet GDP per capita remains significantly below the EU average. The country's industrial base combines coal, textile, chemical, machinery, iron, and steel sectors and has expanded more recently to include fertilizers, petrochemicals, machine tools, electrical machinery, electronics, cars and shipbuilding. 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.