Poland GDP Growth Rate

The Gross Domestic Product (GDP) in Poland expanded 0.60 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Poland is reported by the Central Statistical Office of Poland (GUS). GDP Growth Rate in Poland averaged 1.03 Percent from 1995 until 2013, reaching an all time high of 6.40 Percent in the first quarter of 1997 and a record low of -3.20 Percent in the fourth quarter of 1996. Poland has pursued a policy of economic liberalization since 1990 and today stands out as a success story among transition economies. In 2008, GDP grew an estimated 4.8%, based on rising private consumption, a jump in corporate investment, and European Union funds inflows. Since 2004, EU membership and access to EU structural funds have provided a major boost to the economy. This page provides - Poland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-25

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.60 0.70 6.40 -3.20 0.77 | 2014/03 1995 - 2013 Percent Quarterly

TO

Poland GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-11-14 09:00 AM Poland
GDP Growth Rate QoQ- P.
Q3 2013 0.6% 0.4% 0.22%
2013-11-29 09:10 AM Poland
GDP Growth Rate QoQ- Second Estimate
Q3 2013 0.6% 0.5% (R) 0.6% 0.6%
2014-02-14 09:00 AM Poland
GDP Growth Rate QoQ
Q4 2013 0.5% 0.7% (R) 0.72%
2014-02-28 09:00 AM Poland
GDP Growth Rate QoQ - Final
Q4 2013 0.6% 0.7% 0.5% 0.5%
2014-05-30 09:00 AM Poland
GDP Growth Rate QoQ
Q1 2014 0.6% 0.77%
[+]

GDP Last Previous Highest Lowest Forecast Unit
GDP Growth Rate 0.60 2013-12-31 0.70 6.40 -3.20 0.77 2014-03-31 Percent [+]
GDP Annual Growth Rate 2.70 2013-12-31 2.00 8.10 0.30 2.64 2014-03-31 Percent [+]
GDP Constant Prices 452231.10 2013-11-15 400516.40 452591.70 82266.40 436011.36 2014-03-31 PLN Million [+]
Gross Fixed Capital Formation 121721.10 2013-11-15 72925.80 122865.10 11786.40 98655.94 2014-03-31 PLN Million [+]
GDP per capita 10569.78 2012-12-31 10375.01 10569.78 4379.57 10873.77 2014-06-30 USD [+]
GDP per capita PPP 18296.52 2012-12-31 17959.37 18296.52 7581.14 18822.72 2014-06-30 USD [+]
GDP 489.80 2012-12-31 515.70 529.40 63.90 493.07 2014-06-30 USD Billion [+]
[+]


Polish GDP Growth Revised Up to 0.6%

In the fourth quarter of 2013, Poland’s economic growth was revised upwards to 0.6 percent on a quarter-on-quarter basis, up from an earlier estimate of 0.5 percent, but down from 0.7 percent in the previous three-month period.

Quarter-on-quarter, total consumption expenditure in the fourth quarter of 2013 increased by 0.7 percent, while individual consumption rose 0.6 percent. Gross fixed capital formation expanded 0.4 percent.

On the production side, the gross value added in industry was 0.1 percent higher, while the one in construction was 0.9 percent lower. 

The value added was also higher in transportation and storage (+3.1 percent), financial and insurance activities (+10.8 percent) and in public administration and defense (+0.5 percent). In contrast the value added for trade and repair was 0.5 percent lower.

Compared with the same quarter of 2012, the GDP expanded 2.7 percent in the last three months of 2013, up from 1.9 percent in the previous quarter, as exports contributed 1.5 percentage points to the expansion, while domestic demand added 1.2 percentage points.

Central Statistical Office | Joana Taborda | joana.taborda@tradingeconomics.com
2/28/2014 10:46:14 AM

RECENT RELEASES

Polish Economy Expands Less Than Forecast in Q4
Poland's GDP grew 0.5 percent from the previous quarter in the last three months of 2013, down from 0.7 percent in the third quarter as consumer spending recovery was lower than expected. Published on 2014-02-14

Polish GDP Growth Confirmed at 0.6% QoQ in Q3
In the third quarter of 2013, Poland's economy expanded 0.6 percent over the previous three-month period, up from 0.4 percent in the June quarter. The figures match the initial estimate released earlier November and show that the economy accelerated for the third straight quarter. Published on 2013-11-29


GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


RELATED NEWS

Polish Unemployment Rate Falls in March  
Poland’s jobless rate dropped for the second straight month in March of 2014 to 13.5 percent, down from 13.9 percent in February and below market forecasts. A year earlier, unemployment was recorded at 14.3 percent.
Poland Unemployment Rate at 13.9%  
In February of 2014, Polish jobless rate slowed marginally to 13.9 percent from 14 percent in January. It is the first decline in six months.
Polish GDP Growth Revised Up to 0.6%  
In the fourth quarter of 2013, Poland’s economic growth was revised upwards to 0.6 percent on a quarter-on-quarter basis, up from an earlier estimate of 0.5 percent, but down from 0.7 percent in the previous three-month period.
Polish Unemployment Rate Rises in January  
In January of 2014, Poland’s jobless rate rose for the third straight month to 14 percent from 13.4 percent recorded in December last year. A year earlier, unemployment was recorded at 14.2 percent.
Polish Economy Expands Less Than Forecast in Q4  
Poland's GDP grew 0.5 percent from the previous quarter in the last three months of 2013, down from 0.7 percent in the third quarter as consumer spending recovery was lower than expected.
Poland Unemployment Rises to 7-Month High in December  
In December of 2013, Polish jobless rate rose to 13.4 percent from 13.2 percent recorded in November. It is the highest jobless rate since May of 2013.
Polish Unemployment Rate Rises in November  
In November of 2013, Polish jobless rate increased to 13.2 percent after remaining steady at 13 percent in the previous three months, mainly due to seasonal effects. Last year, November’s unemployment was recorded at 12.9 percent.
Polish GDP Growth Confirmed at 0.6% QoQ in Q3  
In the third quarter of 2013, Poland's economy expanded 0.6 percent over the previous three-month period, up from 0.4 percent in the June quarter. The figures match the initial estimate released earlier November and show that the economy accelerated for the third straight quarter.
Poland Unemployment Rate Unchanged in October  
In October, Polish jobless rate remained unchanged at 13 percent for the third consecutive month, after falling in the previous nine months. Youth unemployment continued to fall when compared with the previous year.
Polish Economy Rebounds in Q3  
Poland's GDP expanded by 0.6 percent quarter-to-quarter from July to September compared to 0.4 percent growth in the previous three month period, according to a flash estimate published by statistics office GUS.
MORE RELATED NEWS

LATEST NEWS

Tokyo Core CPI At 22- Year High in April  
Core consumer prices in Tokyo, a leading indicator of nationwide inflation, rose 2.7 percent in April from a year earlier, the fastest gain since 1992 as an increase in sales tax drove up cost of goods and services.
US Durable Goods Orders Surge in March  
New orders for manufactured durable goods in March increased $6.0 billion or 2.6 percent to $234.8 billion. This increase, up two consecutive months, followed a 2.1 percent February increase.
US Jobless Claims Rise in Latest Week  
In the week ending April 19, the advance figure for seasonally adjusted initial claims was 329,000, an increase of 24,000 from the previous week's revised level. There were no special factors impacting this week's initial claims.
Central Bank of Turkey Leaves Main Rates on Hold  
The Monetary Policy Committee decided on April 24th, 2014, to leave the one-week repo rate on hold at 10.0 percent for the third straight meeting. The Central Bank said it will maintain the current policy stance until there is a significant improvement in the outlook for inflation.
Swiss Trade Surplus Narrows Further in March  
The trade surplus decreased 10.6 percent in March of 2014 from the previous month to CHF 2.1 billion as imports rose at a higher pace than exports. Compared with a year earlier, the trade balance increased by 17.2 percent, driven by stronger sales of pharmaceuticals and chemicals products, and machinery to Europe and China.
Polish Unemployment Rate Falls in March  
Poland’s jobless rate dropped for the second straight month in March of 2014 to 13.5 percent, down from 13.9 percent in February and below market forecasts. A year earlier, unemployment was recorded at 14.3 percent.
South Korean Economy Expands at a Fastest Pace  
In the first quarter of 2014, South Korea’s GDP accelerated for the fourth straight quarter to an annual 3.9 percent growth rate, driven by exports.
South Korea GDP Growth Beats Expectations in Q1  
South Korean GDP expanded a seasonally adjusted 0.9 percent on quarter in the first three months of 2014, the same rate recorded in the previous quarter and above market expectations.
Reserve Bank of New Zealand Increases Interest Rate to 3.0%  
At its April 23rd, 2014 meeting, the Reserve Bank of New Zealand lifted the benchmark interest rate for the second straight meeting by 25 bps to 3.0 percent, as inflationary pressures were increasing and were expected to continue doing so over the next two years.
US New Home Sales Fall Sharply in March  
Sales of new single-family houses dropped 14.5 percent in March of 2014 to their lowest level in eight months. Sales were recorded at a seasonally adjusted annual rate of 384,000, below the revised February rate of 449,000.
MORE TOP NEWS

OVERVIEW    |     WORLBANK    |     [+] Calendar    |     [+] Countries    |     [+] Indicators    |     News