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

The Irish economy advanced 2.7 percent on the quarter in the three months to December of 2015, following an upwardly revised 1.5 percent expansion in the previous quarter and staying way above market consensus of 0.9 percent. Personal consumption and net exports were the main drivers of growth while capital investment increased at a slower pace. Compared to the same quarter a year earlier, the GDP advanced 9.2 percent hitting the highest value since the first quarter of 2001. Considering full 2015, the economy expanded 7.8 percent. GDP Growth Rate in Ireland averaged 1.13 percent from 1997 until 2015, reaching an all time high of 6.20 percent in the first quarter of 1999 and a record low of -4.10 percent in the fourth 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
2.70 1.50 6.20 -4.10 1997 - 2015 percent Quarterly
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 May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-09-10 11:00 AM Q2 1.9% 2.1% 0.7% 1.1%
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%
2016-06-09 10:00 AM Q1 2.7% 1.6%
2016-09-09 10:00 AM Q2 1.4%
2016-12-09 11:00 AM Q3 1.8%

Irish GDP Expands 2.7% in Q4, Beats Forecast


The Irish economy advanced 2.7 percent on the quarter in the three months to December of 2015, following an upwardly revised 1.5 percent expansion in the previous quarter and staying way above market consensus of 0.9 percent. Personal consumption and net exports were the main drivers of growth while capital investment increased at a slower pace.

On the expenditure side, personal consumption, the largest component of domestic demand, expanded by 1 percent following a 0.9 percent growth in Q3; and overall net exports rose, as export growth during the quarter of 3.4 percent (+2.6 percent in Q3) was outpaced by import growth of 2.5 percent (+5.4 percent in Q3). Capital formation increased by 2.9 percent easing from a 4.8 percent growth in the previous quarter. By contrast, government expenditure continued to drag the expansion down shrinking by 1.4 percent (-1.8 percent in Q3).

On the production side, there was an overall increase of 6.4 percent in the industry sector, including building and construction where a 1 percent increase was recorded. The other services sector increased by 1.1 percent and public administration and defence rose 0.7 percent. Meanwhile, the distribution, transport, software and communications sector shrank 0.2 percent and agriculture, forestry and fishing recorded a quarterly decrease of 1.1 percent.

Year-on-year, the economy advanced 9.2 percent, compared to an upwardly revised 7.2 percent in the previous period and hitting the highest value since the first quarter of 2001.

Considering full 2015, the GDP advanced 7.8 percent, as capital formation rose strongly by 28.2 and personal consumption rose by 3.5 percent, while government expenditure exhibited a slight decline over the same period (-0.8 percent). Total domestic demand increased by 9.3 percent in 2015 compared with 2014. Overall net exports for the year was little changed. On the production side, value added of industry rose by 13.7 per cent, with manufacturing recording a 14.2 percent increase and building and construction recording an 8.8 percent increase. The distribution, transport, software and communications sector increased by 8.7 percent while the agriculture sector increased by 6.4 percent, and other services by 4.3 percent. Public administration and defence recorded an annual decline of 2.6 percent.

CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/10/2016 12:18:07 PM

Ireland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.70 1.50 6.20 -4.10 percent [+]
GDP Annual Growth Rate 9.20 7.20 15.60 -8.00 percent [+]
GDP 250.81 238.26 274.71 1.94 USD Billion [+]
GDP Constant Prices 52573.00 51167.00 52573.00 22973.00 EUR Million [+]
Gross National Product 44124.00 42657.00 44124.00 20317.00 EUR Million [+]
Gross Fixed Capital Formation 12627.00 12272.00 12844.00 5116.00 EUR Million [+]
GDP per capita 49360.56 47250.89 52924.82 12465.83 USD [+]
GDP per capita PPP 46633.19 44640.08 50000.51 22467.71 USD [+]
GDP From Agriculture 1293.00 1306.00 1306.00 854.00 EUR Million [+]
GDP From Construction 1312.00 1300.00 2592.00 971.00 EUR Million [+]
GDP From Manufacturing 13839.00 13012.00 13839.00 6391.00 EUR Million [+]
GDP From Public Administration 1504.00 1493.00 1856.00 1229.00 EUR Million [+]
GDP From Transport 12990.00 13022.00 13022.00 5192.00 EUR Million [+]




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