Polish Economy Expands 4.9% in 2022
Photo by Feng Yu / Shutterstock.com
The Polish economy expanded during the year 2022 amid a solid increase in domestic demand and investments, though at a slower pace compared to the previous year, flash data from the Warsaw-based Central Statistical Office (GUS) showed on Monday.
Gross domestic product (GDP) advanced 4.9% in 2022 versus a 6.8% rise in 2021.
The overall GDP growth in 2022 was largely driven by a 5.5% increase in domestic demand. Nonetheless, this was much slower than the 8.4% gain in the preceding year.
On the other expenditure components, household consumption grew 3% versus a 6.3% rise in 2021, while the growth in gross fixed capital formation accelerated to 4.6% from 2.1%.
Total consumption in 2022 increased by 2.14% in real terms, including consumption in the farm sector by 3.0%, data showed.
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