After correction with seasonal factors (number of calendar days), our gross domestic product increased in the first quarter of 2025 by 3.8 percent. compared to the same quarter of 2024.
For comparison, the average GDP growth throughout the European Union amounted to 1.4 percent. year to year, and in the euro area by 1.2 percent (This is data in accordance with expectations) – results from Eurostat information. Also in quarterly terms (after correction with seasonal factors), the increase in Poland was greater: both in the EU and the euro area, the quarterly GDP grew by 0.3 percent. (0.4 percent were forecasted).
There is no data on GDP dynamics from all EU countries yet, but according to the analysis of Bank Pekao economists in the first quarter, Poland will certainly be overtaken only by Ireland, which GDP increased by 10.9 percent. Year on year, in their opinion, due to the jump of pharmaceutical exports before the introduction of customs in the US (however, it is a specific country with a large component in the added value of GDP of large international concerns).
“Will Croatia do it too, remains an open issue,” they wrote. In the fourth quarter of 2024, GDP has just grown by 3.8 percent over the Adriatic Adriatic. Year on year, data for the first quarter of 2025 has not yet been published. In addition, statistics from this period for Denmark, Greece, Latvia, Luxembourg and Malta have not yet been given.
Years such as Lita (3.2 percent), Bulgaria (3.1 percent) as well as the Czech Republic and the Netherlands (2 % each) can also demonstrate a high increase in GDP year -year. Germany, the largest economy of Europe, recorded a decrease by 0.2 percent. (We recently wrote that this is the seventh quarter in a row, when their GDP shrinks year to year.) Deterioration was also recorded in Hungary (by 0.4 percent), in Austria (by 0.7 percent) and in Slovenia (by 0.8 percent).
“Poland at the forefront of the EU. Wi quarter 2025 Polish GDP increased by 3.2 percent year -on -year – according to forecasts, although slower than in the fourth quarter 2024 (3.4 percent). This is the second best result in the EU after Ireland (10.9 percent year in year). Consumption and investments are still weak, but the reflection continues. 2025 underestimated ” – wrote Piotr Arak, chief economist of Velobank, on the portal X.
“Preliminary data in the opinion of Allianz Trade should be treated with caution, because they are based on a limited set of data at the national level, which are susceptible to searches in subsequent readings. Among the larger economies, Spain is again shiny with persistent strong growth, while the countries more north, especially France, Germany and the Netherland – summed the economists of Allianz Trade.
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They added that Ireland stands out against this background, significantly exceeding the growth rate in other countries. “Despite the fact that Ireland accounts for only 4 percent of the euro zone economy, its GDP growth was responsible for about 36 percent of the euro area's overall growth in the first quarter. However, because Ireland's growth is notoriously unstable and susceptible to strong reverse searches, it is worth looking at the growth of the euro area, excluding Ireland, which looks slightly less pink in the last three quarters” – – They added.
