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Gross Domestic Product

Send Print Download added: Patrycja Operacz | 2017-04-20 13:22:41
poland, macroeconomic indicators, gross domestic product

The GDP of Poland was 474,8 billion US dollars in 2015. This makes Poland the 24th largest economy in the world and the 9th in Europe. Per capita the GDP was respectively 12,492 US dollars or 26,499 US dollars PPP.

Polish GDP has been growing steadily for more than two decades, since 1991. The average growth in the years 1992–2008 was almost 4.5%, with the lowest rate (in 2001) 1.0%. For almost five years (between 1995–1997 and 2006–2007) Polish GDP grew at least 6% per year. Despite the major recession that many economies have struggled with since 2008, GDP growth was 3.9% in 2010 and 4.3% in 2011 according to European Commission. GDP growth rate for 2015 equalled 3.9% and the International Monetary Fund forecasts Polish GDP growth to 3.4% by 2018, and European GDP to rise to 1.6%, which places Poland in the group of the fastest growing countries.

Even though Poland had a positive GDP growth of 3.9% in 2015, its nominal value decreased to 474,8 billion US dollars due to the significant strength of the US dollar in that year.

The highest GDP in 2014 (according to latest data published by GUS in 2016) was generated in Mazowieckie voivodship (22.2% of Polish GDP), but the main contributor was Warszawa, which alone generated approximately one fifth of Poland’s GDP.

The strongest region after Mazowieckie is Śląskie voivodship, generating 12.4% of Poland’s GDP in 2014, followed by Wielkopolskie (9.7%), Dolnośląskie (8.5%) and Małopolskie (7.8%).

After Mazowieckie (160.4% of the national average), the biggest GPD per capita is generated in Dolnośląskie (111.9%), Wielkopolskie (107.5%) Śląskie voivodship (103.9%). The regions with the lowest GDP per capita are the voivodships of „the eastern wall”: Lubelskie (69.9%), Podkarpackie (70.9%), Warminsko-Mazurskie (72.8%), Podlaskie (72.3%) and Świetokrzystkie (72.8%).

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Source: Polish Investment and Trade Agnecy, Investor's Guide - Poland: How to do business 2016.