Poland’s GDP grew by 3.6% in 2025, compared to a 3.0% increase in 2024, exactly as we forecasted. The growth was more balanced than in the previous year, driven by both public and private consumption, with investments contributing 0.7 percentage points, whereas in 2024 they had dragged growth down by 0.2 percentage points.
Throughout 2025, total consumption rose by 3.9%, following 4.4% in the previous year, while household consumption accelerated to 3.7% from 2.9% in 2024. Investments increased by 4.2%, in contrast to a 0.9% decline the year before. Net exports made a slightly negative contribution to GDP growth, at 0.3 percentage points, compared to a negative 1.2 percentage points contribution in 2024. In terms of growth structure for 2025, the positive surprise was the dynamics of private consumption, whereas the relatively low increase in investment disappointed.
