Only one country of the European Union developed faster at the end of last year than Poland. Our economy has grown by 3.7 percent year on year (GDP growth after investment). Spanish (3.5 percent) and clearly stronger than other countries of our region, like The czech republic (+1.6 percent), Slovakia (+1.7 percent) and Hungary (+0.2 percent).
Denmark EU leader. The power of one industry (and company)
A bit more about Poland in a moment. First about the leader. In the first place was Denmark, which GDP increased in the fourth quarter of 2024 by 4.1 percent. year on year. One industry has a lot of merits here, and in fact one company. It is about the pharmaceutical giant Novo Nordisk, a manufacturer of loud and desirable (especially in Hollywood) for several years Ozmpic and Wegova. The first is a medicine intended for patients with diabetes, while conducive to weightlessness. The second one is directly aimed at lowering body weight. Economists of Pekao SA, who in the entry on X noticed the high position of Poland in the ranking, at Denmark added attention to “magic ozmpic”.
Novo Nordisk is the largest European company, greater than the entire Danish economy. Although the company's stock exchange rate has been falling since the autumn of last year, its capitalization is still piercing the size of the entire GDP of Denmark. According to the last data, it is 408.87 billion dollars. The value of Denmark's GDP for 2023 (newer official data is not yet) is just over $ 407 billion. In November 2024, the capitalization of Novo Nordisk pierced $ 600 billion.
It was the pharmaceutical sector that was the driving force of Denmark's economic growth. And thanks to him, the country raised its growth forecasts at the beginning of December. At 2024 to 3 of 1.9 percent previously assumed, and for this year to 2.9 percent with 2.2 percent We already know that last year closed clearly above expectations, because GDP increased by 3.6 percent.
Recently, she said that she was planning to significantly conquer her investments in defense due to the threat from Russia. This year, by 50 billion crowns, or almost $ 7 billion, which will make expenses for this purpose be 3.2 percent. GDP. By 2033, he wants to spend $ 17 billion on defense.
What is happening in Poland?
Our economy also looks better and promises to be further improvement. In the last quarter of the past year, GDP after cleansing the impact of seasonal factors increased by 3.7 percent. year on year. Experts in our country are closer to this indicator. It is also over 3 percent. – exactly 3.2 percent year on year. Clear acceleration against 2.7 percent growth in the third quarter (although slightly slower than economists hoped).
As for growth motorbikes, our country's GDP is mainly driven by private consumption – i.e. household expenses. These expenses can still accelerate, because Poles, who were focused on recovering savings last year, are starting to spend money more and more and more. And not at all for food shopping, but for lasting goods – as was visible in the last data on retail sales in January. Exports have a negative impact on GDP growth – this is primarily because of the weakness of the German economy, our main trading partner. Investments surprised positively for this, which, although they still do not grow at a stunning pace – by 1.3 percent. year to year, this is a clear acceleration – in the third quarter they grew by only 0.1 percent. Investments will also grow more and more this year, due to the greater influx of EU funds (from the KPO and the Cohesion Fund).
It all makes it this year Poland The economy will probably accelerate. For now, most economists see an increase for over 3 percent for a whole year. (in 2024 there were 2.9 percent). However, there are already signals that some will raise these forecasts. For example Credit Agricolewhich is currently expecting 3.5 percent. GDP growth, he points out that he sees a “slight risk up” for his expectations. Economists of Pekao SA already openly say that this year we will see four at the front.
And we wrote a little more about Spanish success and its causes in this text: A bright euro zone star. In the south of Europe, the economic prymus has grown up. Where does this height come from?