Poland GDP Annual Growth Rate

Last Release

Jun 30, 2024

Actual

3.2

Units In

1.9

Frequency

Quarterly

Next Release

Nov 28, 2024

Time to Release

2 Months 28 Days 12 Hours

Highest	Lowest	Average	Date Range	Source
11.2 Jun 2021	-8.2 Jun 2020	3.89 %	1995-2024	Central Statistical Office of Poland (GUS)

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.

Latest Updates

Poland’s GDP grew 3.2 percent year-on-year in the second quarter of 2024, in line with the preliminary estimate and accelerating from a 2 percent expansion in the previous quarter. This was the strongest economic growth since the third quarter of 2022, as household consumption increased (4.7 percent vs 4.6 percent in Q1), as well as the gross fixed capital formation (2.7 percent vs -1.8 percent). Additionally, foreign demand contributed positively to GDP as exports and imports rose by 3.4 percent and 5.4 percent, respectively. Meanwhile, public demand slowed (10.7 percent vs 10.9 percent). On a seasonally adjusted quarterly basis, the economy expanded 1.5 percent, aligning with earlier estimates and following an upwardly revised 0.8 percent growth.