The Irish economy shrank 5.1 percent on quarter in the last three months of 2020, after a revised 11.8 percent expansion in the previous period. Household consumption declined 2.3 percent, reversing from a 20.9 percent jump in Q3 and net foreign demand contributed negatively to growth, as exports rose 4 percent (vs 7.2 percent in Q3) while imports soared 24.4 percent (vs 2.1 percent in Q3). Meantime, government expenditures eased (0.1 percent vs 1 percent) while fixed investment advanced faster (28.7 percent vs 5.9 percent). On a yearly basis, the economy grew by 1.5 percent, following an 8.7 percent expansion in Q3. Considering full 2020, Ireland's GDP grew 3.4 percent with COVID-19 restrictions impacting all quarters of the year. source: Central Statistics Office Ireland
GDP Growth Rate in Ireland averaged 1.36 percent from 1995 until 2020, reaching an all time high of 23.20 percent in the first quarter of 2015 and a record low of -5.10 percent in the fourth 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 May of 2021.
GDP Growth Rate in Ireland is expected to be -1.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Ireland to stand at 0.70 in 12 months time. In the long-term, the Ireland GDP Growth Rate is projected to trend around 0.70 percent in 2022 and 0.60 percent in 2023, according to our econometric models.