tstart: 1642531199.069
economy European Union GDP Germany Commentary

Despite slowdown in growth of Western economies, Poland’s remains strong

In 2019, we saw a disconnect between Polish and German economic development

editor: REMIX NEWS
author: Zbigniew Kuźmiuk

Despite the slowdown in Western economies, Poland’s economy maintains a high level of growth and is making itself increasingly independent of the economies of highly developed countries, according to Eurostat data on economic growth in the EU in 2019.

The Eurostate ranking also had Poland at the top of the ranking in Europe in terms of growth.

Western European economies noted minimal GDP growth, and even decreases in Q4 2019, while the Polish economy kept growing.

Economic growth in Poland in 2019 was 4 percent of GDP and the average for the Eurozone countries was 1.1 percent of GDP. The average for the EU was 1.4 percent of GDP.

Germany saw very weak growth; only 0.6 percent of GDP, as did Italy with 0.1 percent. France was slightly better with 1.3 percent of GDP and so was Spain with 1.9 percent of GDP.

The weak economic growth in Germany was greatly responsible for slowdown in growth for the overall eurozone. Eurostat pointed out that the poor result for the German economy has to do with an export slowdown compared to 2018, which was only a 0.9 percent growth, while imports grew by 1.9 percent.