Economic Snapshot | Poland

Poland's GDP in the first half of 2021 has recovered to pre-pandemic levels. Compared to the previous year, GDP grew by 5. 3%. Poland’s annual inflation rate accelerated for the sixth straight month to 8.6% and weakened the position of the Polish zloty against the EUR and USD. In response to rising inflation the National Bank of Poland raised its benchmark reference rate by 50bps to 2.25% on January 4th, in line with market expectations. Exports in Poland increased to 24,9 EUR Billion in October from 24,5 EUR Billion in September of 2021. Poland’s industrial production surged 15.2 percent year-on-year in November of 2021, picking up from a 7.8 percent increase in the previous month and hugely surpassing market expectations. Industrial output also accelerated for all sub-industries, including manufacturing, electricity and gas. The outlook of Poland remains stable however there are several indicators that shall be carefully observed during a year.

To download the entire report click on the link below: