Poland GDP Annual Growth Rate

Last Release

Sep 30, 2024

Actual

2.7

Units In

3.2

Frequency

Quarterly

Next Release

Nov 28, 2024

Time to Release

13 Days 8 Hours

Highest	Lowest	Average	Date Range	Source
11.2 Jun 2021	-8.2 Jun 2020	3.88 %	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

The Polish GDP grew by 2.7% from the previous year in the third quarter of 2024, slowing from the 3.2% expansion noted in the earlier period, according to an initial estimate. It was the fifth consecutive quarter of annual GDP growth. Despite the slowdown, the growth rate remained above the average since the Russian invasion of Ukraine in 2022 triggered an energy crisis and a sharp depreciation of the zloty. However, the GDP contracted by 0.2% from the previous quarter on a seasonally adjusted basis, trimming the 1.5% surge in the second quarter, to mark the first contraction since the second quarter of 2023.