Poland GDP Annual Growth Rate

Last Release

Sep 30, 2024

Actual

2.7

Units In

3.2

Frequency

Quarterly

Next Release

Feb 28, 2025

Time to Release

2 Months 29 Days 12 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

Poland’s GDP expanded by 2.7% year-on-year in the third quarter of 2024, slowing from 3.2% growth in the previous quarter, in line with preliminary estimates. The slowdown was driven by a 4.4% rise in domestic uses, slightly below the 4.8% growth recorded in the second quarter of 2024, alongside a negative foreign trade balance. Final consumption expenditure grew by 1.3%, down from a 6.2% increase in the previous quarter, while household consumption rose by just 0.3%, a sharp slowdown from the 4.6% gain in Q2. Gross capital formation rose 20.0%, rebounding from a 1.8% decline in the prior quarter, while gross fixed capital formation edged up by 0.1%, slowing from 3.2% growth in Q2 2024. On a seasonally adjusted quarterly basis, the economy contracted by 0.1%, slightly less than initially estimated, following a downwardly revised 1.2% growth in the second quarter.