Visegrád Group economies diverge from shared convergence path

The Visegrád Group (V4) is no longer following a single economic narrative as the era of rapid convergence slows down. While the group was founded on shared experiences of transitioning to market economies, recent external shocks—including the COVID-19 pandemic, the energy crisis, and inflationary waves—have highlighted significant differences in how member states and their central banks respond.

Economic data shows diverging paths. While labor productivity in V4 countries has grown faster than the EU average, individual performance varies. Poland has seen significant shifts, with GDP per capita in purchasing power parity rising from 69.2 to 81.2, and labor productivity growing by 3.6% in 2025. In contrast, the Czech Republic has not surpassed its 2020 GDP per capita record of 95.6.

Investment patterns also differ across the region. Poland's investment growth is heavily supported by public spending and European funds, though its overall investment rate remains relatively low at 17.1% of GDP for 2025, compared to 26.7% in the Czech Republic. All four nations remain heavily dependent on foreign demand and key trading partners like Germany.