Poland's Gross Domestic Product increased by 5.7% in 2021, after a 2.5% decrease in 2020, according to a preliminary estimate published on Monday by Statistics Poland.
Statistics Poland government agency said on Monday that, according to its preliminary estimate, Poland's Gross Domestic Product in 2021 increased by 5.7% year on year. In 2020, the country's GDP decreased by 2.5%.
Based on currently available data, the following volume growth rates of gross value added were estimated:
- gross value added in national economy in 2021 increased by 5.3% compared with the previous year against the decrease by 2.6% in 2020,
- gross value added in industry in 2021 increased by 14.1% compared with the previous year against the decrease by 5.3% in 2020,
- gross value added in construction in 2021 increased by 1.2% compared with the previous year against the decrease by 4.6% in 2020,
- gross value added in trade and repair in 2021 increased by 5.9% compared with the previous year against the decrease by 2.7% in 2020.
"Domestic uses in 2021 was 8.2% higher than in 2020 when the decrease of 3.4% was noted. Total consumption expenditure in 2021 increased by 4.8% compared with the previous year, in which consumption expenditure in the households sector increased by 6.2% (in 2020 a fall of 1.1% and 3.0% respectively was recorded)" - we read in the estimate report.
"Gross fixed capital formation in 2021 compared with the previous year was higher by 8.0%, (in 2020 the decrease of 9.0% was observed). The investment rate in the national economy (relation of gross fixed capital formation to gross domestic product at current prices) in 2021 was 16.6% as in 2020" - Statistics Poland said.
Źródło: TVN24 News in English, PAP
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