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GDP growth at 3.8% in 2010


In 2010 Poland’s gross domestic product grew by 3.8%, which represents a significant acceleration compared with the previous year, according to preliminary estimates from the Central Statistical Office (GUS). The result was slightly ahead of market expectations, which averaged 3.7%.

The main engine of economic growth was domestic demand, which grew by 3.9% in 2010 (during the analysed period private consumption rose by 3.2%, while gross fixed capital formation declined by 2%). At the same time, the contribution to GDP growth of net exports was marginally negative.

In 2009 the Polish economy expanded by 1.7%. We expect the positive tendencies to strengthen and the rate of economic growth to accelerate slightly this year. According to our forecasts, in 2011 Poland's gross domestic product will increase by 4%.

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