Gross domestic product
The gross domestic product in the first quarter of 2025 increased in annual terms slightly less than in the previous period but more than in the first quarter of 2024.
Population
The population of Poland at the end of first quarter of 2025 was lower than a year before. Fewer children were born than in first quarter of the previous year, while more deaths were recorded. As a result, the natural decrease deepened. It is estimated that in first quarter of 2025, similar as in the previous year, the international net migration was positive
Labour market
The annual decrease of average paid employment in the enterprise sector was slightly smaller than in previous months of 2025. In the register rolls of the unemployed, fewer persons were recorded than a year ago, fewer persons were removed from the register as well. The registered unemployment rate at the end of April 2025 was slightly lower than in the previous month and insignificantly higher than a year before.
According to the preliminary results of the Labour Force Survey, in the first quarter of 2025, the number of employed persons as well as the employment rate were smaller than a year ago. Whereas the number of unemployed persons and the unemployment rate were higher.
Average monthly gross retirement and other pensions
The year-on-year increase in average nominal gross retirement and other pensions in both systems was similar to that recorded in March 2025. With the slower pace of growth in consumer prices, the purchasing power of these benefits increased (in the case of farmers, slightly, after a minor decline in March 2025).
Consumer prices
The annual growth rate of consumer prices was the lowest since July 2024. The increase in prices, among others, of food and non-alcoholic beverages was smaller than in March 2025 as well as, slightly, in prices related to dwelling. The decline in prices, among others, of transport deepened (including fuels for personal transport equipment).
PRICES OF CONSUMER GOODS AND SERVICES
Prices of sold production1 of industry
and construction and assembly production
The year-on-year decline in prices of sold production of industry was the most since the beginning of this year. The growth rate of construction and assembly production prices slowed down slightly (the increase has been at 3.7% since January 2025).
PRICES OF SOLD PRODUCTION OF INDUSTRY
Sold production of industry2
The increase in sold production of industry was smaller than in the previous month. After eliminating the impact of seasonal factors, the production slightly decreased. Sold production was higher than in April 2024 in manufacturing (the main section of industry) as well as in water supply; sewerage, waste management and remediation activities, while lower – in mining and quarrying as well as in electricity, gas, steam and air conditioning supply. Among the main industrial groupings, sales increased in the production of capital goods and of non-durable consumer goods, while they decreased – in the production of energy, of durable consumer goods and of intermediate goods.
SEASONALLY UNADJUSTED
Construction and assembly production3
The year-on-year decrease of construction and assembly production was more significant than in the previous two months. Production was lower than in April 2024 in entities specialising in construction of buildings and in civil engineering, while it was higher in enterprises dealing mainly with specialised construction activities. Sales of restoration works decreased, while of investment works increased.
SEASONALLY UNADJUSTED
Housing construction4
More dwellings were completed than a year ago (a significant drop was recorded then). After large increases in April 2024, both the number of dwellings for which building permits have been granted5 and those in which construction has begun, decreased.
DWELLINGS COMPLETED
DWELLINGS FOR WHICH PERMITS
HAVE BEEN GRANTED 5
DWELLINGS IN WHICH CONSTRUCTION HAS BEGUN
Retail sales
There was a year-on-year increase in retail sales, after decreases in the previous two months. Sales increased in most groups, with significant increases in entities trading in motor vehicles, motorcycles, parts and in group of furniture, radio, TV and household appliances. High growth, after a decline in April 2024, was also recorded in units trading in food, beverages and tobacco products (influenced, among others, by a different calendar of holidays than last year) and in the group of textiles, clothing, footwear. Sales also increased, among others, in the group of solid, liquid and gaseous fuels (after decreases in previous months of 2025). On the other hand, the decline in sales continued in the group of others.
RETAIL SALES
Agriculture
On the agricultural market, purchases for basic cereals and most of the main animal products were paid much more than in April last year. Potato prices increased slightly, while prices for pigs for slaughter dropped.
PROCUREMENT PRICES OF WHEAT
PROCUREMENT PRICES
OF PIGS FOR SLAUGHTER
Foreign trade
The value of goods exports dropped (but to a lesser extent than in the first quarter of 2024), while the value of imports increased (after a significant decline a year earlier). Total exchange closed with a negative balance (which was positive a year before). The value of turnover with most groups of countries decreased in annual terms, only imports from developing countries increased. The terms of trade index in January–February 2025, similarly to the previous year, developed unfavourably.
EXPORTS
(in PLN)
Financial results of non-financial enterprises
Financial results of the surveyed enterprises were higher than those obtained in the first quarter of 2024. Economic and financial relations improved. Revenues from export sales decreased. The basic indicators among exporters were more favourable than a year before, but slightly worse than those for enterprises in total.
NET FINANCIAL RESULT
GROSS TURNOVER
PROFITABILITY INDICATOR
NET TURNOVER
PROFITABILITY INDICATOR
Business tendency
Amidst presented activities, in manufacturing and construction, the business climate is assessed similarly unfavourably as in April 2025. However, the sentiments of entrepreneurs in retail trade improved (to slightly positive), and worsened in transportation and storage.
Among the factors hindering running a business, entrepreneurs most often point to employment costs. To a significant barriers belong also, among others, high payments to state revenue and the uncertainty of economic environment. In most activities, unclear and unstable legal regulations, among others, are mentioned less frequently amidst the barriers than in May 2024, while, among others, insufficient demand is mentioned more often.
Entrepreneurs most often predict that in 2025 they will maintain the level of investment from last year (this is indicated by about 60% of units in most of the presented activities, except for manufacturing, where the percentage was by about 44%). Among the barriers hindering investing, entrepreneurs most often indicate the high cost investments, although their importance declined in general (especially in manufacturing). The percentage of enterprises that point to high inflation as a barrier limiting investments activity has also decreased significantly (especially in construction and retail trade).
Consumer tendency
Consumer confidence indicators, reflecting current and predicted tendencies in individual consumption, are less unfavourable than in April 2025. Among others, pessimistic forecasts about the country's economic situation and the level of unemployment have improved. According to respondents, the growth in consumer prices will continue.
Consumer concerns about the threat posed by the current situation in Ukraine are slightly bigger than in April 2025. According to 29% of respondents, the conflict on Ukrainian territory poses a major threat to Poland's sovereignty and independence (vs. 28% a month earlier), and in the opinion of 26% – to the Polish economy (vs. 25%). According to 8% of respondents, the war in Ukraine is a major threat to their personal financial situation (vs. 7% in April 2025). Losing their job or closing their own business because of the war is definitely feared by 2% of respondents (vs. 1% a month before), and 8% see the possibility of such a situation (vs. 9%).
CURRENT CONSUMER
CONFIDENCE INDICATOR
Sytuacja społeczno-gospodarcza kraju
Departament Opracowań Statystycznych
e-mail:
ssgk@stat.gov.pl