Turkey's official annual GDP growth cools to 2% in 1Q
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In May 2004, ten countries joined the European Union in its largest expansion. These new members entered the EU’s internal market, allowing the free movement of goods, services, capital and people.
Poland was one of these countries. At the time, its gross domestic product (GDP) per capita stood at $21,200 per year, around half the EU average, Our World in Data (OWID) reports.
Since then, this gap has narrowed. As the chart shows, Poland’s GDP per capita has more than doubled.
While many factors contributed to this growth, integration into the EU played a role. Since 2004, Poland’s inflation-adjusted exports have more than tripled, with around three-quarters going to other EU countries. This boost to growth is sometimes described as an “EU accession bonus”.
Poland has also been a major beneficiary of EU funding, receiving over €163bn (net of its own contributions). Most of this money has supported areas such as transport infrastructure, research and development and energy.
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Turkey's official annual GDP growth cools to 2% in 1Q
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