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.

GDP Annual Growth Rate in Poland averaged 4.05 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 -8.20 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 October of 2020. source: Central Statistical Office of Poland (GUS)

GDP Annual Growth Rate in Poland is expected to be -4.60 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 7.90 in 12 months time. In the long-term, the Poland GDP Annual Growth Rate is projected to trend around 3.70 percent in 2021 and 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
-8.20 2.00 8.10 -8.20 1995 - 2020 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-05-15 08:00 AM YoY Prel Q1 1.9% 3.2% 1.3% 1%
2020-05-29 08:00 AM YoY Final Q1 2% 3.2% 1%
2020-08-14 08:00 AM YoY Prel Q2 -8.2% 2% -8.6% -10%
2020-08-31 08:00 AM YoY Final Q2 -8.2% 2% -8.2%
2020-11-13 09:00 AM YoY Prel Q3 -8.2% -4.6%
2020-11-30 09:00 AM YoY Final Q3 -8.2% -4.6%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
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 Q2 GDP Contracts the Most on Record
Poland’s gross domestic product shrank 8.2 percent year-on-year in the second quarter of 2020, after expanding 2 percent in the previous quarter and compared with market expectations of an 8.6 percent decline, a preliminary estimate showed. It was the sharpest contraction on record, amid the coronavirus pandemic and the government efforts to curb the spread of the virus. On a seasonally adjusted quarterly basis, the economy slumped 8.9 percent, the most since series began, and following a 0.4 percent contraction in the first quarter of the year.
2020-08-14
Poland Q4 GDP Growth Revised Higher to 3.2%
Poland’s GDP expanded 3.2 percent year-on-year in the fourth quarter of 2019, revised from a preliminary reading of 3.1 percent and easing from a 3.9 percent expansion in the previous period. It was the weakest growth rate since the last quarter of 2016, as both household consumption (3.3 percent vs 3.9 percent in Q3) and public spending (3.1 percent vs 4.7 percent) advanced at a softer pace. On the other hand, fixed investment increased 4.9 percent, faster than a 4.7 percent growth in the prior period. Net external demand contributed positively to the GDP, as exports rose 1.4 percent (vs 5 percent in Q3) while imports fell 0.7 percent (vs 3.9 percent in Q3). On a seasonally adjusted quarterly basis, the economy advanced 0.3 percent, following a 1.2 percent expansion in the third quarter of 2019. Considering full 2019, Poland's gross domestic product grew 4 percent, slowing from a 5.1 percent expansion in 2018.
2020-02-28
Polish Q4 GDP Growth Weakest in 3 Years
Poland’s GDP expanded 3.1 percent year-on-year in the fourth quarter of 2019, easing from a 3.9 percent advance in the previous period and slightly above market expectations of 3.0 percent, preliminary estimates showed. It was the lowest annual growth rate since Q4 2016. On a seasonally adjusted quarterly basis, the economy advanced 0.2 percent, avoiding a 0.1 contraction predicted by the economists and slowing markedly from a 1.2 percent rise in Q3. For full 2019, Poland's gross domestic product grew 4 percent, easing from a 5.1 percent expansion in 2018.
2020-02-14

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.