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GDP growth slows to 2% in 2012


In 2012 Poland’s gross domestic product grew by 2%, which represents a significant deceleration compared with the previous year, according to preliminary estimates from the Central Statistical Office (GUS). The result is broadly in line with market expectations.

The main engine of economic growth were net exports. The contribution of consumption was marginally positive while the contribution of investments was close to neutral.

Domestic demand rose by just 0.1% in 2012, compared with 3.4% in 2011. Private consumption went up by 0.5%, as against 2.5% the year before, while gross fixed capital formation rose by 0.6% (+9%).

GDP and its components changes in Poland (%, y-o-y), 2008-2014

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