The Gross Domestic Product (GDP) in Ireland expanded 2.30 percent in the third quarter of 2022 over the previous quarter. source: Central Statistics Office Ireland

GDP Growth Rate in Ireland averaged 1.53 percent from 1995 until 2022, reaching an all time high of 21.10 percent in the first quarter of 2015 and a record low of -5.60 percent in the second quarter of 2020. This page provides - Ireland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ireland GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.

GDP Growth Rate in Ireland is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Ireland GDP Growth Rate is projected to trend around 0.60 percent in 2023, according to our econometric models.

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Ireland GDP Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2022-09-02 10:00 AM Q2 1.8% 6.2% 0.3%
2022-12-02 11:00 AM Q3 2.3% 2.2% -1.1%
2023-03-03 11:00 AM Q4

Related Last Previous Unit Reference
GDP Growth Rate 2.30 2.20 percent Sep 2022
GDP Annual Growth Rate 10.90 12.40 percent Sep 2022
GDP Constant Prices 120073.00 115770.00 EUR Million Sep 2022
Gross National Product 83536.00 85430.00 EUR Million Sep 2022
Gross Fixed Capital Formation 48961.00 24995.00 EUR Million Sep 2022
GDP from Public Administration 9617.00 9583.00 EUR Million Sep 2022
GDP from Manufacturing 50191.00 45226.00 EUR Million Sep 2022
GDP from Construction 2363.00 2309.00 EUR Million Sep 2022
GDP from Agriculture 1035.00 876.00 EUR Million Sep 2022
GDP from Transport 8920.00 8554.00 EUR Million Sep 2022
GDP from Services 20231.00 20385.00 EUR Million Dec 2016

Ireland GDP Growth Rate
Irish economy is based on foreign trade, industry and investment. The country is major high-tech manufacturer and is one of the world’s biggest exporters of pharmaceuticals and software. On the expenditure side, household consumption is the main component of GDP and accounts for 44 percent, followed by gross fixed capital formation (19 percent) and government expenditure (17 percent). Net exports adds 19 percent to total GDP as exports account for 114 percent while imports for 95 percent.
Actual Previous Highest Lowest Dates Unit Frequency
2.30 2.20 21.10 -5.60 1995 - 2022 percent Quarterly

News Stream
Ireland GDP Extends Growth Momentum
Ireland’s gross domestic product grew by 2.3 percent on quarter in the three months leading to September of 2022, picking up slightly from the upwardly revised 2.2 percent expansion in the previous quarter. Growth was supported by a 91.8 percent surge in gross domestic fixed capital formation, extending the 20.2 percent increase in Q2, driven mostly through investment in intangible assets. In the meantime, household consumption expanded by 0.3 percent, more than offsetting the 0.3 percent decline in government expenditure. On the other hand, net foreign demand contributed negatively to the economy as imports jumped by 27 percent, largely due to high energy prices, while exports grew by a slower 4.8 percent. On a yearly basis, the Irish GDP expanded by 10.9 percent, easing from the 12.4 percent increase in Q2.
Ireland Economy Rebounds at Fastest Pace in 7 Years
Ireland’s gross domestic product expanded by 10.8 percent on quarter in the first three months of 2022, rebounding from an upwardly revised 6.2 percent contraction in the previous period. It was the biggest GDP growth since the first quarter of 2015, mainly driven by foreign demand, as exports rose 5.2 percent in Q, after a 1.5 percent increase in Q4 while imports tumbled 12.3 percent, down from a 23.7 percent surge in Q4. Meanwhile, household consumption fell 0.7 percent (vs -0.5 percent), government expenditure went down 0.4 percent (vs 0.6 percent) and gross fixed capital formation slipped 39.5 percent (vs 75.9 percent). On a yearly basis, the economy advanced 11 percent, accelerating from a 9.6 percent growth in Q4.
Irish GDP Contracts at Record Rate
Ireland’s gross domestic product contracted 5.4 percent on the quarter in the three months to December of 2021, the sharpest contraction on record and falling from an upwardly revised 1.2 percent increase in the previous quarter. Household consumption edged down 0.3 percent, extending the 0.2 percent decrease in the previous quarter. At the same time, net foreign demand contributed negatively to growth, as imports jumped by 22.7 percent while exports ticked up by a slower 1.3 percent. On the other hand, gross domestic fixed capital jumped 76.5 percent, while government expenditure rose by 0.9 percent. On a yearly basis, the economy expanded 9.6 percent in Q4, easing from the 11.3 percent rise in the previous quarter. Considering the full 2021, Ireland’s economy rose 13.5 percent.