Ireland GDP Growth Rate  1997-2016 | Data | Chart | Calendar | Forecast

The Irish economy contracted 2.1 percent on the quarter in the three months to March 2016, following a downwardly revised 2.3 percent expansion in the previous period and missing market consensus of 0.7 percent gain. It was the sharpest drop since the last quarter of 2013, due to a fall in capital formation while household spending and government expenditure expanded and net external demand contributed positively. Compared with the same period of 2015, the GDP advanced 2.3 percent, the lowest in over two years. GDP Growth Rate in Ireland averaged 1.28 percent from 1997 until 2016, reaching an all time high of 21.40 percent in the first quarter of 2015 and a record low of -3.90 percent in the first quarter of 2008. GDP Growth Rate in Ireland is reported by the Central Statistics Office Ireland.

Ireland GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
-2.10 2.30 21.40 -3.90 1997 - 2016 percent Quarterly
SA
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. This page provides - Ireland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ireland GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-12-10 11:00 AM Q3 1.4% 1.9% 1.4%
2016-03-10 11:00 AM Q4 2.7% 1.5% 0.85% 1.2%
2016-07-12 10:00 AM Q1 -2.1% 2.3% 0.7% 1.6%
2016-09-09 10:00 AM Q2 -2.1% 1.4%
2016-12-09 11:00 AM Q3 1.8%

Irish Economy Shrinks 2.1% in Q1 as Capital Investment Drops


The Irish economy contracted 2.1 percent on the quarter in the three months to March 2016, following a downwardly revised 2.3 percent expansion in the previous period and missing market consensus of 0.7 percent gain. It was the sharpest drop since the last quarter of 2013, due to a fall in capital formation while household spending and government expenditure expanded and net external demand contributed positively.

On the expenditure side, capital investment decreased for the second straight period by 16.1 percent following a 1.7 percent fall in the previous quarter. By contrast, personal consumption, the largest component of domestic demand, expanded by 2.1 percent following a 0.9 percent growth in Q4; government expenditure advanced 1.6 percent, accelerating from 1.4 percent gain in Q4; and overall net exports rose 11.2 percent, as exports dropped 5 percent (+4.2 percent in Q4) while imports shrank 9.8 percent (+3.6 percent in Q4).

On the production side, there was an overall decrease of 9.2 percent in industry, within which manufacturing recorded a decline of 11.1 percent while building and construction recorded a small increase of 0.1 percent in real terms. Agriculture recorded a quarterly decrease of 4.1 percent. Meanwhile, value added increased for all service sectors in the quarter. The distribution, transport, software and communications sector increased by 2.8 percent with the public administration and defence sector increasing by 1.9 percent. Other Services rose by 1.6 percent.

Year-on-year, the economy advanced 2.3 percent, compared to an upwardly revised 28.4 percent growth in the previous period and hitting the lowest value since the fourth quarter of 2013.

CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
7/12/2016 11:32:01 AM

Ireland GDP Last Previous Highest Lowest Unit
GDP Growth Rate -2.10 2.30 21.40 -3.90 percent [+]
GDP Annual Growth Rate 2.30 28.40 28.40 -10.10 percent [+]
GDP 238.02 250.81 274.71 1.94 USD Billion [+]
GDP Constant Prices 61490.00 62798.00 62798.00 24270.00 EUR Million [+]
Gross National Product 50786.00 50135.00 50786.00 21991.00 EUR Million [+]
Gross Fixed Capital Formation 11350.00 13523.00 13752.00 5067.00 EUR Million [+]
GDP per capita 56053.73 52256.77 56053.73 12053.93 USD [+]
GDP per capita PPP 51899.20 48383.66 51899.20 21291.54 USD [+]
GDP From Agriculture 1158.00 1208.00 1221.00 794.00 EUR Million [+]
GDP From Construction 1475.00 1474.00 2766.00 1101.00 EUR Million [+]
GDP From Manufacturing 21221.00 23367.00 23367.00 6751.00 EUR Million [+]
GDP From Public Administration 1964.00 1927.00 1981.00 1306.00 EUR Million [+]
Gdp From Services 19813.00 19505.00 19813.00 8392.00 EUR Million [+]
GDP From Transport 12691.00 12342.00 13260.00 5526.00 EUR Million [+]




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Senegal -14.10 Mar/16